27.05.2020 NETFLIX Daily Analysis

27.05.2020 NETFLIX Daily Analysis

Netflix share price has been on a six-day losing- streak which is going to be the longest streak after such a streak in August 2019. So what's contributing to this loss? Well, today is the day that AT&T Inc is unveiling a new streaming service, HBO Max which is set to be Netflix's rival. While Netflix's stock is losing AT&T Inc's is gaining and managed to gain 3.7%. However, one Analyst, Alex Giaimo is suggesting a buy for the stock and sees an upward of $520 for the asset. The Jefferies analyst says Netflix will benefit as consumers increasingly shift away from traditional TV. Still, Giaimo expects Netflix's share price to remain volatile in the near-term, but to head sharply higher over time.