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Tuesday, October 24, 2006

Cramer Reverses His SELL on Netflix (NFLX), Now Says "BUY!"

Cramer said he has been very negative on Netflix for months, and it was up 18% after beating earnings. Cramer has been so wrong he was out apologizing for it, and he even put on a burlap sack to describe it.

He said the analysts were right here for telling you to buy it, and he was wrong.

Cramer even said "call me Netflix." because he was wrong. Now he said that after calling it a Sell at $20, then $19+, and then at $23....... Now Cramer is saying that this stock is a Buy. He said he was just wrong about the company and the story. He said he shouldn't compare it to Blockbuster (BBI).

Netflix traded up 18.59% to $27.37 in regular trading, but in after-hours it gained another 1.75% to $27.85. Its 52-week trading range is $18.12 to $33.12.

Jon C. Ogg
October 24, 2006
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