Netflix shares may be getting hammered on Thursday but research from Bespoke Investment Group shows that history is kind to the stock in trading.
Research from Bespoke Investment Group shows that history is typically kind to traders who buy at open following a gap lower on poor earnings.
The "stock rose from the open to the close 8 of 13 times, and each of the last 4 times it has happened," Bespoke said in a tweet. Netflix Co-founder, Chairman & CEO Reed Hastings attends Q&A during Transatlantic Forum as part of Series Mania Lille Hauts de France festival on May 3, 2018 in Lille, France.shares may be getting hammered on Thursday but research from Bespoke Investment Group shows that history is typically kind to traders who buy at open following a gap lower on poor earnings.
There are 13 days when Netflix shares dropped more than 10% on earnings, Bespoke noted, out of 68 quarters. The "stock rose from the open to the close 8 of 13 times, and each of the last 4 times it has happened," Bespoke said in a tweet.Netflix dropped nearly 11% in premarket trading from its previous close of $362.44 a share.
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