Hawaiian Gov’t Says “No” to Employees Love Affair With Netflix Inc (NFLX)Author: Victor AlagbeLast Updated: March 12, 2020 Netflix Inc. is probably the most-loved tech stock on the market now and it is certainly the most-loved streaming service in the state of Hawaii. There may be a little too much love for the service going around. The Hawaii state government has decided to ax access to Netflix for its employees, as the service proves addictive. The love for Netflix echoes the love that investors have for the stock. Tiger Global revealed, in a 13-F, that it bought more shares of the firm worth $1.6B in the second quarter.The Hawaii state government says that its employees have watched between 100 and 300 hours of movies on Netflix between July 28 and August 4 (1 week). The quantity of time spent viewing Netflix during that one week is equal to 2-9 full-time workers streaming videos throughout the whole 40-hour week.Todd Nacapuy, Chief Information Officer in Hawaii says, “The state has finite IT resources, and increasing these resources requires an investment.” Experts on ethics can debate the issues involved when employees watch movies on company time; but, this news only attests to the quality of Netflix’s service and how well it is perceived by users.Hedge fund makes $1.6B bullish on NetflixTiger Global is a tech-focused hedge fund that is managed by Chase Coleman. In the second quarter, the firm bought 2,415,162 shares of Netflix. In the first quarter, the firm had 155,877 Netflix shares but its 13-F filing at the end of the second quarter shows that Tiger Global now has 2,571,039 shares. At the trading price of $656.94 with which Netflix ended the second quarter, it can be surmised that the firm spent about $1.6B to increase its stake in Netflix.Netflix has now announced a 1 to 7 stock split and the firm’s total number of shares at Netflix (if it hasn’t sold any) should be somewhere around 17,997,273 shares. Tiger Global’s share in firm should thus be worth $2.23B at the pre-market trading price of $124. Bloomberg posits that Tiger Global is now the hedge fund with the highest number of Netflix shares.Why the bullish bet on NetflixThe addictive nature of Netflix service that could make a state government to block the service for its employees is likely a good sign. The fact that Netflix is winning the streaming wars in overseas markets says that smart money is long Reed Hasting’s firm.The fact that it is probably the best-performing stock in the market now says, it is smart to place bullish best on the firm. The stock has gained 88.14% in the last one year. The stock has gained a massive 152.8% in the year-to-date period. It has gained 40.84% in the last three months.Past performance is, of course, no indication of future performance, but Wall Street is fairly bullish on the future as well.