Netflix Has Been On The Move Since Disappointing Earnings Report (NFLX)

On July 21st, Netflix NFLX reported its quarterly earnings, beating Wall Street earnings per share estimates, but missing consensus revenue expectations. The top-line disappointment resulted in a steep sell off in NFLX in the following days. Prior to the report, NFLX was trading above $120. In the wake of the revenue miss, the shares traded all the way down to below the $100 level. In recent trading sessions, however, bargain hunters have been scooping up NFLX shares in a major way. Durng the last 5 trading days, the stock has gained 13.64% to $116.48. The trading activity suggests that investors are viewing the most recent quarter as a near-term setback, and continue to view NFLX's secular growth story favorably.