Following up on my previous article on Netflix, the company announces a significant news of a price hike yet again to as much as $20 a month in the US region where they have most control over with.
Barely just a week before earnings, Netflix is doing their regular habits of hiking prices early to the consumers every two years or so, citing inflation as one of their main reasons for doing so.
The service’s top tier is now 42% more expensive than it was in late 2018 and a significant increase bump to the topline numbers assuming subscription numbers remain constant.
They have been very successful in the past price hikes which led them to where they are today but with competitors sizing up, we may not know if subscription numbers will drop or fall off to these recent changes. The company has been reducing their prices in regions where it struggles like India, so this move may make sense given the US has just recently announced a record breaking inflation month earlier this week.
Wall Street appears happy as the stock price rose 1.25% on the announcement of this news, closing green last night.
The stock price has been on a jitters since the start of the year, trending along the weakness in all other tech stocks with a rotation play back to value.
Netflix’s revenue will get an immediate term lift with this news which will increase their topline by more than $1b annually but we’ll have to see if growth stalls because of this.
While they have been successful with doing so in the last few years, a good reminder also for for a case study of cable who has last market share over the past decade by making itself price expensive that forces people to re-evaluate the need for the subscription.
With competitors sizing up, there are now plenty of alternatives to online streaming today with the likes of Amazon Prime Video, Disney+, Apple TV and many more.
In terms of technical chart, the stock price has hit my short term target of around $514 on the weekly EMA100 last night which I have taken a part of profits from my short/buy puts position. I’ll leave the other half in anticipation for the earnings announcement next week.
I expect a thumbs down from the market post results
Your shorts may succeed
Market has been on a risk-off recently. Let’s see if market can be forgiving in an earnings season.
Big money for you congrats man
Thanks friend.
uncle168,
the ocbc hacker knew a major loophole when you change your hp number online.
you only need the user
uncle168,
the ocbc hacker knew a major loophole when you change your hp number online.
you only need the user id and pin to change the hp.
while posb require an otp from email and sms to change your hp.
this is why the hacker only need the user id and password.
he logs into your account change the hp and immediately has total control of your accoint.
mas is responsible for not auditing ocbc it internal control when such a major flaw in access control to change the hp which allows anyone with just the user id and password to take over the account immediately once the hp no is changed.
the spf should arrest the cto of ocbc and investigate mas for lax in auditing banks it security internal controls.
posb males it hard for the hacker to change the hp as he need 2 otp from owner email and hp while ocbc don’t even need sms otp to change the hp.
ocbc cto should be sacked.
keekeekee
uncle168,
this is why only ocbc is target as nobody noticed this loophole except uncle168 & the hacker.
this is likely an insider job from someone who just resigned from ocbc it department.
he is likely from where delta variant comes from.
i suspect all the money went to cecaland.
uob need digital token or sms before can change hp so it is not targeted.
i would advice ocbc to stop internet changing on hp number immediately.
keekeelee
uncle168,
it is likely ocbc has to compensate for all the losses due to its negligence to allow hp number change without 2fa.
this is because dbs & uob has 2fa for hp number change but ocbc don’t have.
ocbc can sue mas for not auditing its it system and claim damages to compensate the victims.
there is a reason why cash is king and the good old paasbook, cheque and atm is still around today.
more haste less speed.
i think mas can cancel the digital bank rubbish nobody will dare to deposit money in banks with no physical branches
keekeekee
uncle168,
in short the hacker were not smart nor did they use any advanced hacking tools.
they just knew that to change the hp number in ocbc just need user id and password.
it was so simple any idiot can pull it off.
especially the pap pet ceca.
keekeekee
uncle168,
actually sms is very secure only your sim can receive the sms.
it is not the sms fault it is ocbc allow hp number change without 2fa.
had ocbc have 2fa for hp number change, there is no way the hacker can change the transfer limit or payee as these requires sms otp from the owner hp.
hence the irony why change hp no need 2fa but transfer limit & payee need 2fa?
i think ocbc cto can go fly kite.
keekeekee
uncle168,
mothership article confirm the loophole that change otp hp on ocbc app no need 2fa.
the hacker use the user id & pin and the 1st hardware otp to activate the app on his hp.
then he change the otp hp number.to a prepaid sim brought from the shops raided a few days ago by police.
he then max out the limit and add payee using his hp otp to overseas accounts.
this is an insider job by an ex ocbc ceca it employee.
he is still in singapore as he is a pr and need to sell his hdb and withdraw his cpf.
the spf can still catch him and recover the money by looking at the cctv who buy the prepaid sim used for the hp otp.
even if he wear a mask, spf can ask ocbc who resign from the it department for the past 6 months and match the cctv photos.
this ceca hacker mistake is he too greedy hack so many people.
if he hack $1m can go back deltaland eat banana and retire for life.
now he is likely to face life imprisonment .
keekeekee
uncle168,
it seems i’m wrong the hackee did not change the hp otp number.
the loophole with ocbc app is once one token is activated all high risk transaction do not need further 2fa.
i believe posb is also the same with the digital token but to activate posb app is harder as need otp from both email and sms.
mas has to ban digital token to stop more bamk fraud as anyone can steal your digital token but not a physical one.
a physical token can be a cost to banks but is much safer for depositors.
keekeekee
uncle168,
now dbs also got same scam knowing omce the digital token is activated there is no need for further 2fa for high risk transaction.
the digital token was flawed from the start as it is like putting the key umder door mat, the token is the app.
so if the hacker know where the key is he can help himself to everything in your house.
the physical token is more secured as you carry it with you and the hacker has to ask you for 2fa for every high risk transaction.
while a digital token speeds up transaction it can empty your account just as fast if it falls to the wrong hands.
banks should reimpose second layer 2fa like in the past when using the physical token on the web for the app when high risk transaction is being executed.
mas should ask banks to buy cyber fraud insurance so customers can resume confidence in digital banks.
going forward many will terminate imternet banking and go back to physical passbook, atm cards, cheques and bill payment via axs machines.
keekeekee
uncle168,
it is likely ba2 will force a lockdown soon just before cny as cases spike up sharply and flood the icu.
ba2 cannot be detected on art and vaccine is useless against it.
covid is a tiong made bio weapon against the amdk combining the sars & aids virus.
it is highly unstable and will keep mutating in order to survive against vaccines and anti viral medicine.
as we take more and more shots of mrna vaccine, our own immunity will be damaged and the result is like contacting aids when there is no more immune system after repeated shots and the body becomes easily infected by other common viruses.
vaccinating children is a big mistake, the long term effects on fertility is unknown.
we may end up with future generations of singaporeans with birth defeats in the heart and kidney.
the problem with the vaccine is when it is injected into a arm with little or no muscles like the elderly and young children when it is likely to enter the blood stream and travel to the heart or kidney.
if it stays in the arms muscle it doesn’t cause side effects, the problem is when it accidentally enters your blood stream.
that rarely happens thats why you see cases of vaccine injuries and death are low.
the booster given to frontline workers is likely to wane soon given in oct 2021 and it has been 3 months.
that is why covid cases is rising again, hospital clusters is likely to start to rise again as boosters wanes.
the 4th booster is only likely to last 1 month and the 5th 2 weeks.
the half life drops by half with every additional booster.
the problem starts when you start seeing repeated boosted people dying of common flu, cough as the body’s own immune system shuts down with repeated vaccination.
only china is doing the right thing, a total lockdown to reduce death rates.
all the 800 stinkies died in vain as covid mutates and kills more stinkies as the gov refuse to plan for a long term isolation strategy to reduce death rate.
keekeekee
uncle168,
covid was never about the pandemic.
it was about greed and fear.
fear of death lead to signing of irrational supply contracts with vaccine manufacturers leading to innocent vaccine injuries and death.
greed leading to opening of borders inviting new variants of covid leading to death which can be avoided.
there is no cure for covid just like aids.
yet the government forced half baked vaccines to its people.
the long term side effects are not known yet the gov claim victories and light at the end of the tunnel is near.
covid is an infinite loop there is no end.
like a b52 bomber, waves and waves of death will hit singapore as new variant enters via vtl.
now even who say booster is useless.
will the gov continue the narrative that the vaccine will save us or tell the people the hard truth that covid will eventually wipe out the human race?
a normal virus will become less lethal and spread faster and become endemic but covid is a man made virus, it will become more lethal and spread faster.
only total isolation will slow its spread and a long term isolation strategy is needed for the long term survival of singapore.
alas the young children has been vaxed when who say is not required.
what future does singapore hold if its children fertility is affected by vaccination as the long term effect is not known yet.
keekeekee
uncle168,
“it is likely ocbc has to compensate for all the losses due to its negligence to allow hp number change without 2fa.”
it came true ocbc to compensate for all the losses.
negligence is the key for full compensation.
gxgxgx to all the fraud victims
keekeekee
uncle168,
2 weeks only after wfh as default is removed cases are doubling every week.
this means if the gov do nothing the healthcare system will be overwhelmed by cny.
the vaccine is useless.
wfh as default kept cases low for the past 6 months.
only isolation can slow down covid.
i expect a lockdown by cny as we run out of icu beds.
more healthcare workers will resign.
we will end up with hospital with no doctors nor nurse.
the cases will increase so fast the mtf will be shocked and by the time they lockdown many would have died because no more icu beds.
keekeekee
uncle168,
mas move is as good as saying please don’t use internet banking because you can lose all your money, it is faster and safer if you go to the atm or bank to do your transaction.
if you queue in the bank sure faster than wait 12 hours for app to activate.
the reality is singaporeans are too dumb for a smart nation to develop.
many people will switch back to passbook and atm card especially elderly.
i’m going to switch back to posb passbook.
if cannot i close the account and go uob the safest bank so far.
keekeekee
uncle168,
the high cost of ensuring secure internet banking will push local banks back to physical banking passbook atm cheque that is more secure and easier to maintain.
banks may even charge for internet banking to push customers back to branches.
it cost less to print passbook then hire so many people to handle online security 24/7
keekeekee