This morning, Netflix (NASDAQ:NFLX) launched their service in the UK and Ireland. The company set different prices for each country, and it will be interesting to see if the company's idea of on demand media and content can catch on in these two countries. It also remains to be seen whether Amazon's (NASDAQ:AMZN) subsidiary in the area will be a big competitor for Netflix.
Netflix shares are up about 2% this morning, to their highest level in a few months. Shares have rallied hard since bottoming around $62 after last quarter's terrible earnings report. I think the name is still a short, but I wouldn't try to play earnings this quarter with this one. There is just no certainty that either side is a good idea. I'll have more out on Netflix throughout the day.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.