Netflix Inc. has become the best performing U.S. stock in the Standard & Poor’s 500 Index in 2013 and the second most expensive, and therein lies a tale of disagreement.
Investors who dig into company filings can find negative free cash flow, a surge in liabilities for new movie and TV-show content and a long-term increase in unpaid subscribers. Moreover, perceived limits on customer numbers and the high price of shares have led 26 of the 37 Bloomberg-listed analysts covering the stock to advise investors to sell or hold stakes.
