Netflix, Inc. (NASDAQ: NFLX) is off to an incredibly strong run in the market at the moment, and for good reason. There’s a rumor that a billionaire investor has a stake in the stock. Of course, this led to excitement among investors, causing gains and prompting our partners at Trade Ideas to alert us to the movement. At the moment (10:16), NFLX is trading at $154.47 per share after a gain of $2.42 per share (1.59%) thus far today.
NFLX Gains On Buffet Stake Rumor
As mentioned above, Netflix is making a run for the top at the moment as the result of a rumor that’s surfacing on social media. The rumor is that Warren Buffet has taken a stake in the company. However, the rumor doesn’t suggest what type of stake it is (activist or passive), nor does the rumor suggest the size of the stake that Buffet supposedly has in NFLX.
It’s important to remember that rumors are abundantly common in the market. In most cases, these rumors prove to be invalid. While it’s understandable that Buffet may be interested in NFLX at the moment, there is no confirmation, no SEC filing, and nothing else that suggests that this rumor is true. So, if you’re going to trade on this one, please be sure to do so with caution.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on NFLX. In particular, we’re interested in following the news surrounding Warren Buffet’s potential stake in the company. We’ll continue to follow the story closely and bring the news to you as it breaks!
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