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Netflix, Inc. (NFLX) Streams To All-Time High

Netflix, Inc. (NASDAQ:NFLX) has been buoyed to an all-time high because of the stocks own momentum, Julie Hyman suggests in a report on Bloomberg Markets.

According to the Bloomberg reporter, Netflix, Inc. (NASDAQ:NFLX) was trading in a record high range yesterday for apparently no particular underlying fundamental news.

“Energy shares have been dragging down the Dow and the S&P but NASDAQ side I just want to point out one outperformer and that is Netflix and that is because the stock is trading at an all-time high. No sort of fundamental news appears to be driving it today but that is not necessarily terribly unusual for Netflix which is one of these so-called ‘momentum stocks’ that tends to sort of rise and fall without necessarily a lot of underlying news,” Hyman tells colleague Scarlet Fu.

Hyman was also talking about the major averages in the report when she pointed out the Netflix, Inc. (NASDAQ:NFLX) record high. According to Hyman, yesterday’s session was sort of a lackluster session as shares have been trading at a pretty tight range. For most of the day, she says, the Dow Jones Industrial Average and the S&P 500 have trended more negative while the NASDAQ was barely hanging on to gains albeit those gains are very scant.

Aside from Netflix, Inc. (NASDAQ:NFLX) and the major averages, Hyman also took a look at what was going on at the treasury markets. She reports that the U.S. 10-year yield in particular looked good because overall, treasuries have trended down for the first time in three days. That meant yields are on the rise, she says, adding that U.S. 30-year yield was notable as well because the yield there broke above 3%. Yields in general have been trending higher, Hyman notes.

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Carl Icahn’s Icahn Capital LP owned about 1.41 million Netflix, Inc. (NASDAQ:NFLX) shares by the end of 2014.

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