Wall Street's favorite momentum stock, Netflix (NFLX), has been on an unprecedented upward tear. The company’s share price recently broke its all-time high, peaking at $704 as of yesterday's close. Over the past week, shares of Netflix settled around $675, having more than doubled since its 52-week low of $315.54; Netflix is also well above its 50-day moving average of $617.96.
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Momentum Investing
Technology stocks, once the darlings of Wall Street, are now facing intense investor scrutiny. Over the last three months, key tech stocks, such as Twitter (TWTR), Netflix (NFLX), and Amazon (AMZN), experienced significant declines in their stock prices. Twitter is down more than 44%, Netflix is down nearly 20%, and Amazon is down about 17% (all since March).
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