Netflix Pumped By Value Investing Congress (NFLX, AMZN)

Netflix, Inc. (NASDAQ: NFLX) is seeing its shares tick higher so far on Monday on word that Whitney Tilson of T2 Partners was talking shares up at the Value Investing Congress. What was said that was that Netflix is where Amazon.com Inc. (NASDAQ: AMZN) was back in 2001 as far as its business model.

It is worth noting that Tilson has talked about value here before and with shares so close to the 52-week lows this is a position that could easily be referred to as "Long, and wrong" as far as how the position has been working. Twitter comment are mostly pointing to touting and pumping rather than full of praise.

Netflix shares are up 3.2% at $56.21 on the day and we have seen almost 2 million shares trade hands as of 11:40 AM EST. What matters here is that Netflix closed at $54.44 on Friday and its 52-week trading range is $52.81 to $133.43. This call is happening at a low rather than at a high. Netflix is also worth about $3.1 billion, which is a fraction of its former value.

As a reminder, "value" is often found after stocks hit 52-week lows and after bad news or business interruptions come into the fray.

JON C. OGG

Filed under: 24/7 Wall St. Wire, Internet, Media Tagged: AMZN, NFLX