Will Rhind, Founder and CEO of GraniteShares, said: “Netflix Inc (NASDAQ:NFLX) has seen its share price rise by a staggering 61.92% year to date and 9.87% in the past month, but many investors clearly feel this rally has much further to run.
“We offer 3x leveraged/long ETPs on Netflix, and we have seen an increase in interest in this product since the start of this year, perhaps not surprising given that 3LNF has delivered a return of 246% YTD. We also have basket ETP products on “FAANG” stocks that include Netflix as well as other giant tech stocks, and these have also seen increases in the level of flows into them this year.
“A review* of 32 leading analysts that cover Netflix reveals 11 recommend a strong buy, 9 recommend buy, and just two recommend a strong sell or sell. The remaining 10 recommend a ‘hold’.
“Netflix has over 130 million subscribers worldwide, and is well positioned to mine its vast dataset to improve content selection and customer experience and become even more competitive. It has a strong ability to understand viewer habits and preferences, and this gives it a competitive advantage.
“It is worth noting that the current share price of Netflix is way off its all-time high of $691.69, which was achieved on November 17, 2021, so many investors believe there is still headroom for further rises in today’s price.”
