Netflix Inc (NASDAQ:NFLX) Trading Below Its 20-Day EMA

Posted by Kristi Scott October 29, 2013 0 Comment 1165 views

There was a report from The Street that asserted that there wasn’t much of a chance that Netflix, Inc (NASDAQ:NFLX) will offer any of its services as part of a cable bundle, in the near future. The company will not be coming to Time Warner Cable or Comcast Corporation (NASDAQ:CMCSA) anytime soon and negates the news that has been floating around for a while now.

The report says that too much heed should not be paid to what the company says and that that whatever Reed Hastings, Netflix, Inc (NASDAQ:NFLX)’s Chief Executive Officer and his top aides say should be given no more than a casual ear. There have been several instances in the past when the company has misled its investors with their talks.

Netflix’s cable story

Last week there were several stories doing the rounds that Netflix, Inc (NASDAQ:NFLX) will couple up with Time Warner Cable and Comcast corporation to offer its video streaming services as a part of a bundle that these companies were offering its subscribers. The Street report says that this is something that will not take place. According to the report, the news about this combined deal had been spread by Netflix, Inc (NASDAQ:NFLX) executives to steal some limelight from HBO.

There is a possibility that the company will make some minor strategic changes but it will not make any major changes to the manner in which it runs its business. There are some definite technological hurdles that prevent the company from hitching onto the cable bandwagon and there is also no reason for Time Warner or Comcast to offer any sort of agreement to Netflix, Inc (NASDAQ:NFLX).

Monday’s trading

In Monday’s trading, Netflix, Inc (NASDAQ:NFLX) dropped by 4.28%. The opening price of the shares was $325.01, which climbed to an intraday high of $330.96 and dipped to a close of $314.00. Shares of the company are trading below it’s 20-Day EMA which stands at $320.96.

About Kristi Scott

Kristi Scott joined GDP Insider in 2005 as a Wall Street reporter for the Business and Market section. Kristi covers the stock market, financial markets and personal finance. Her awards have come from the National Federation of Professional Writers, the Ohio Newspaper Association, the Cleveland Press Club, the Society of Professional Journalists and Suburban Newspapers of America. Kristi was named SNA's national Journalist of the Year

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