Doing a search of the term, "netflix", Google's Ngram shows a continuous rise in written accounts of that term. What's even more interesting, is that upon clicking on one of the articles dated from August 7, 2004 pulls up an article in Billboard Magazine, where investor Eugene Rausch filed a lawsuit that Netflix had misled investors on their subscriber base.
Note, he wasn't the first, and there was a series of individual investors who filed suit within months of each other, ending up in a consolidated class action lawsuit. Just over a year later, a judgment was entered, dismissing the case against Netflix and its officers.
On August 9, 2004 (Monday after the report in Billboard), Netflix closed at 16.42. Today, it's at 180.02.
So, what do you think is going on in the mind of those investors? Do you think they were so incensed, that they bailed out of Netflix, and missed out on the meteoric rise?
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