Jim Cramer on Netflix: "It's a Very Highly Valued Stock"

Netflix, Inc. (NASDAQ:NFLX) is one of the stocks Jim Cramer put under the spotlight. When a caller highlighted that the stock is receiving some hate despite the fundamentals looking good after the recent quarterly earnings announcement, Cramer commented:

“You know, you raise a great point. I mean, it has come down a great deal. When I saw it was down 23, I said, wow, they’re really taking the wood to this thing. And it’s a very, you know, it’s a very highly valued stock… Just give it that wide berth as you know, because you’re club members, you know, that’s how we think and that’s how I think you can build that position to the right size, right into the weakness.”

Netflix (NASDAQ:NFLX) provides streaming entertainment, including TV series, films, documentaries, and games across multiple genres and languages. The company’s content is accessible through multiple internet-connected devices. When a caller asked for advice on the stock during a June episode, Cramer responded:

“I mean, they are going to be the entertainment channel, so to speak, for the world. It’s worth $542 billion, that makes sense to me. I don’t want to double down because I think you might get an intraday swing at a point where you can buy some. But I’m not going to go against this company, which may be one of the best-run companies in the entire world, and I am not going to tell you to sell the stock.”

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Disclosure: None. This article is originally published at Insider Monkey.