Netflix shares rebound following sell-off after earnings report
NFLX Netflix Inc
$67.05 +3.09%
View chart & analysis → - 1Netflix shares closed up 3.09% at $67.05 as investors capitalized on a sharp sell-off following the earnings report.
- 2Netflix trading volume of 58.4 million was 65% higher than its three-month average.
- 3Netflix conducted its largest share buyback in company history, spending $4.8 billion to repurchase 63.9 million shares in the third quarter.
So what's the key point?
Netflix share prices rose again after many people sold their stocks following the earnings announcement. This was influenced by the company spending its largest amount ever to buy back its own shares.
Source The Motley Fool +1 · View original ↗
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