We have further extended the offering capabilities of our Vontobel Issuer. We are now allowing for Capped Outperformance Certificates on US-Underlyings to be traded via deritrade. In this context, we present the following opportunity: Capped Outperformance Certificate on Netflix.
Netflix Inc. shares surged after the company reported its strongest quarter of growth since the early days of the pandemic. The company added 13.1 million new customers in the last three months of 2023, surpassing Wall Street’s estimate of 8.91 million and exceeding forecasts in all regions of the world.
Shares rose as much as 14% to $559 in New York on Wednesday morning, marking their largest gain since October. With this Netflix has successfully rebounded from a challenging 2022 and is now well on its way to achieving its goal of becoming a global television company. In contrast, many of its Hollywood competitors are struggling with declining cable networks and unprofitable streaming services, leading to mergers and job cuts. However, management has warned that growth will slow somewhat in the new year. Netflix said it won’t add as many customers in the first quarter of 2024 as it did in the final months of 2023, although the total will exceed the 1.75 million it added in the same period last year. Wall Street still expects Netflix to add 4.31 million customers in the quarter. Investors that are expecting some further potential upside on the stock, are now able to price a Capped Outperformance Certificate on Netflix as we recently integrated US underlyings to the underlying universe for (Capped) Outperformance Certificates on deritrade.
Source: Bloomberg (2024)
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