This week's earning report blew Wall Street expectations out of the water, and sent investors streaming back into the stock. Scott Budman reports.
Netflix shares have been on fire lately.
Yes, sure, the earning report that came out wednesday night blew Wall Street expectations out of the water, and sent investors streaming back into the stock.
But Rob Lowe knows the real reason for the nearly 60 percent pop in Netflix's share price (NFLX) since Thursday morning: It's because Netflix is now streaming The West Wing.
Lowe said as much in a tweet, reading "Hmmm, I wonder why Netflix just posted a surprise profit report?
It's been re-tweeted more than 500 times, favorited more than 300.
Now, improved profits, and a jump in subscribers is at least part of the reason for the stock's rocket ride. But West Wing started streaming on Netflix Jan. 7, when Netflix traded for $95 a share.
As of this writing? Netflix trades for $170 a share.
Rob, you have a point.
Scott, like Rob Lowe, is also on Twitter: