A couple of weeks ago, I detailed how investors in streaming giant Netflix (NFLX) should focus on the big picture. The stock dropped despite a Q3 revenue beat, because not enough subscribers were added and the usual Euro bond revaluation tanked net income. Late last week, shares were caught up in a tech sector selloff, despite the latest news for the name likely being positive.
First of all, the coronavirus resurgence that many were afraid of has definitely come. Three major countries across the pond have already announced lockdowns, and with US cases surging as seen below, more lockdowns at home are definitely possible. With temperatures only starting to get colder and a vaccine likely several months away from being effective for mass population use, a harsh winter is approaching.
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