At the E3 gaming conference in Los Angeles, Netflix Inc (NFLX) announced that it would release a free-to-play mobile video game next year, which will be based on the companys original series “Stranger Things”. The game is being developed in cooperation with Helsinki-based Next Games Corp, Netflix said.
Netflix shares closed lower for a fourth consecutive trading session on NASDAQ on Thursday. The stock went down 0.62% ($2.13) to $343.43, after touching an intraday low at $339.31, or a price level not seen since June 3rd ($332.65).
Shares of Netflix Inc have risen 28.31% so far in 2019 compared with a 15.35% gain for the benchmark index, S&P 500 (SPX).
In 2018, Netflix Inc’s stock went up 39.44%, thus, it again outperformed the S&P 500, which registered a 6.24% loss.
“Stranger Things 3: The Game” is expected to be a “location-based puzzle [role-playing game]”, which will be released on Android and iOS platforms. The game will integrate Google Maps in order for players to “explore The Upside Down hidden around them in their daily travels and work with fellow fans to fight back its emerging evils.”
“We are huge fans of Stranger Things and thrilled to work together with Netflix to bring our shared vision of Stranger Things into life in a mobile game format,” Teemu Huuhtanen, Chief Executive Officer of Next Games, said in a statement, cited by CNN Business.
Meanwhile, another “Stranger Things” video game is being developed, whose debut on multiple platforms is scheduled for July 4th.
According to CNN Money, the 34 analysts, offering 12-month forecasts regarding Netflix Inc’s stock price, have a median target of $423.28, with a high estimate of $500.00 and a low estimate of $183.00. The median estimate represents a 23.25% upside compared to the closing price of $343.43 on June 13th.
The same media also reported that 26 out of 39 surveyed investment analysts had rated Netflix Inc’s stock as “Buy”, while 9 – as “Hold”. On the other hand, 2 analysts had recommended selling the stock.
Weekly Pivot Levels
By using the traditional method of calculation, the weekly levels of importance for Netflix Inc (NFLX) are presented as follows:
Central Pivot Point – $352.89
R1 – $373.13
R2 – $385.39
R3 – $405.63
R4 – $425.87
S1 – $340.63
S2 – $320.39
S3 – $308.13
S4 – $295.87
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