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After falling almost 10% shares of Netflix seem to have leveled out in today's session.
Shares of the Internet streaming giant hit an all time high of 389 dollars and sixteen cents Tuesday.
After the company said it added a higher than expected.
One point three million customers in the US and quadrupled its profit in the third quarter.
But the stocks rally was short lived after a Wall Street analysts downgraded the stock the question is now if you didn't like Netflix on the way up.
Do you like it on the way down some market watchers don't.
They have some long term problems they've got about seven million dollars in free cash flow have got about five point four billion dollars -- content liabilities that got 500.
Million -- to long term debt -- gonna have to raise some capital under yes they got -- -- one point three knew what twenty million new subscribers in the last period but that's not enough.
Adding some fuel to the selling fire billionaire investor Carl Icahn says he sold more than half of his stake in Netflix for a 457%.
Or 800 million dollars activist investor says it's time to take some chips off the table.
-- according to a filing he still owns four and a half percent of the company still the technology sector as a whole is not a complete bear case but investors should be careful.
There are always new technology is coming along so you have to be -- is a good reason to take profits off sometimes because.
The technology gonna come rule and knocked out what you've got technology like you mentioned it's always evolving -- -- you might just go out to the store and buy something and then a year later.
App color and I think people are investing but there always pushing the envelope the technology companies I think you're always gonna.
Has something on new and sparkly and shiny so there's always money to be mean there.
For more log on a foxbusiness.com.
In New York I'm Jo Ling Kent.
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