Our chart of the week displays that, in addition to tobacco companies, another business has shrugged off the recent market weakness and terrible job numbers.
That business is home movie rentals. Specifically, home movie rentals from Netflix (NFLX).
Netflix strikes us as a classic "Peter Lynch stock." The phenomenally successful money manager Lynch became famous for his love of investing in companies that earned the loyalty of friends and family. These days, most people we know are huge fans of Netflix and its easy-to-use red envelopes. We count ourselves as users. Ordering The Good, the Bad, and the Ugly online beats standing beside a smelly guy at Blockbuster.
As you can see from our chart of the week, this easy-to-use business is soaring right now. Revenue for the most recent quarter rose 27% from the same time period one year ago. The stock is up from $40 per share last summer to $130 today… and it's one of the few stocks able to strike a new 52-week high amid this week's huge selling pressure.
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