While HackingNetflix is not an investment blog, it's an interesting milestone in the company history that Netflix now has a market cap of more than $8.5 billion. The combination of the Canadian streaming service launch and the Blockbuster bankruptcy filing have pushed the stock to an all-time high.
Who would have thought that the scrappy little startup that Blockbuster could have bought for $50 million in 2000 would have decimated the DVD rental market, beating Blockbuster, Movie Gallery, and Wal-Mart?
Disclosure: I do not own shares of stock in any of the companies I write about.
How I wish I owned Netflix stock.
Posted by: BP | September 23, 2010 at 02:53 PM
I wish I bought a ton of it when it was$9 per share, but I can't own the stock and write about it.
I don't think anyone could have predicted Netflix getting this far.
- Mike
Posted by: Mike | September 23, 2010 at 03:52 PM
I considered buying a bunch of stock at the IPO but I am too chicken to invest in individual stock. Also you know the saying - you don't buy stock in a company just because *you* like the product.
Well - I'm an idiot. ;)
Posted by: Scrivner | September 23, 2010 at 04:45 PM
Way back in 2003, I bought it at 5 and sold it at 10. Now, everytime it goes higher, I think "It can't go any higher." And then it does.
Posted by: Nathan | September 23, 2010 at 04:46 PM
It *hurts* that the ESO stopped DAYS before I started working here! Blast!
Posted by: anonymous | September 23, 2010 at 05:04 PM
It really shows the lack of business acumen amongst Blockbuster execs. Not only that they were an established business with lots of resources to throw at competing with Netflix -- and failed. But also that they had an opportunity to buy Netflix at a tiny fraction of what it's worth today -- and failed.
Yet, of course, they and entities like Circuit City love to blame the economy instead.
Posted by: Steven | September 24, 2010 at 08:54 AM
Hollywood Video finally shuttered it's doors in my hometown about 2 months ago. I've been expecting to see another small time chain called Hastings to be closing sometime but it's still open. 1 of the 3 Blockbuster stores closed 2+ years ago and from what I've been reading 600 - 800 more BB's will be closing soon; however, I did see my first BBvending machine last week outside a Safeway. Meanwhile, Redbox machines continue to propagate with some locations doubling up.
I think we can officially call NetFlix a juggernaunt as they continue to expand their realm of influence and market share just by making expensive content licensing deals. The investors have spoken, streaming content is the future and NetFlix has the best horse in the race. Cable/DBS who are already situated platform-wise to deliver VOD/PPV into homes continue to price themselves out of the race. Why the "f" would anyone pay them $4.99 for a movie they can get from Redbox for $1.00?
Posted by: dAVe | September 24, 2010 at 11:57 AM
It's funny. I thought NetFlix was over priced at $27 a share.
I suck as a stock market analyst.
Posted by: Terry Myers | September 24, 2010 at 01:07 PM
I bought way back when Motley Fool Stock Advisor recommended it; sold it @ $57 when Motley Fool said it was oversold. Bought again on Motley Fool's recommendation @ $38. Just sold 30% to keep it from taking over portfolio.
Don't buy stocks you love, but do buy stocks you know. Netflix's PE is now astronomical (almost 67). I don't know how much further it can grow - my stock analysis sucks as well.
Posted by: Jack | September 27, 2010 at 01:55 PM
Thank you for sharing. Not to many people in your position are so gracious. Your article was very poignant and understandable. It helped me to understand very clearly. Thank you for your help.
share market
Posted by: share market | May 01, 2011 at 02:50 AM