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Is Netflix the next momentum name to fall?

Netflix on an iPad Mini tablet computer
Ken Schafer | Getty Images
Netflix on an iPad Mini tablet computer

With recent market leaders Apple, Disney, Tesla, biotech, and media stocks all significantly off their highs, is Netflix the next momentum name to fall?

Netflix is the undisputed outperformer this year, up a stunning 140-plus percent for the biggest gain among members of the S&P 500.

But the shares were weaker Tuesday for little reason. The fact that the stock—at $121 and change—is now above the average Wall Street 12-month price target of $116.45 compiled by FactSet, may be one reason.

Even Netflix CEO Reed Hastings said on the earnings call in mid-July the abrupt rise of the stock is a mystery to him.

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