I spoke with the woman in my office who bought NFLX at the IPO. She exited her position, selling half at $220 (during the stock's ascent), and half at $165 (during the stock's collapse.)
Smart woman.
I toyed with her a little, trying to see if she had a point in mind where she'd buy back in. She thinks it could bottom at $80, but says there's no way she'll buy it again. She said that holding it was stressing her out big-time (she actually used the term "suicidal," but I'm sure she was kidding.) She not only exited NFLX, she closed her Scottrade account too - saying she'd had trouble sleeping and concluded that playing the stock market is not for her.
Funny, but I've had stocks take larger hits on a number of occasions and never got stressed to that degree. She had 120 shares, acquired at $9/share. Yes, NFLX was hammered, but this isn't that much money for her - an extremely well paid professional.
But I can understand the stress. NFLX peaked at $300, just two months ago. Seeing it fall this fast is difficult.
It is now $130.
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