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Payne's Picks

Why I Think Netflix Stock Is Worth the Crazy Ride

By Payne's PicksFOXBusiness

Payne’s Picks: Netflix

FBN’s Charles Payne, Penn Financial President Matt McCall, News Director Scottie Hughes, Plimsoll Mark Managing Director Jim Awad, A&G Capital President and CIO Hilary Kramer, RDM Financial Group President Ron Weiner and Veracruz TJM Founder Steve Cortes on whether to buy Netflix stock.

Let’s talk about Netflix (NASDAQ:NFLX).

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This is a name you know, Netflix. Look at its chart, it's pretty volatile. I was lucky enough the last few times to buy on dips and make a huge amount of money. So I've been waiting for this next step. It got a downgrade this week; I really don't care.

Obviously, it's not for the faint of heart. If you can buckle up and take the next ride, $340 to $350 area, takes you to $500.

Longer term, I do think this can be a $600 stock. I know it's got a 97 P/E and I know I'm crazy, nevertheless, if you have the stomach for volatility, Netflix I think is the stock for you.DISCLOSURES

What do you think?

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