NFLX - Is Netflix Stock Still a Buy After Its 2023 Rebound?
2023-10-27 17:00:00 ET
The traditional media industry's launch of streaming services got off to a hot start during the pandemic, but it's turned into an epic disaster. The days of growth and trying to capture the most market share are over, but now, pivoting to profitability is taking far longer than expected. Writer strikes have been resolved, but ongoing discussions with the actors' union in the U.S. (SAG-AFTRA) aren't helping.
Meanwhile, Netflix (NASDAQ: NFLX) is growing up at just the right time. Shares have rallied 40% so far in 2023, with the company pleasing investors with its positive momentum on the bottom line. With a shakeout coming in the media world, is it too late to buy Netflix?
I've been avoiding Netflix stock for years. My complaints have ranged from the company's use of debt to buy its own content for its streaming service to fear of the coming wave of traditional media companies launching competing services I thought could muddy the waters for Netflix. And that doesn't even include its lack of positive free cash flow . It's been a wild up-and-down affair for Netflix shareholders, and I'm not sad I stayed on the sideline.
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Is Netflix Stock Still a Buy After Its 2023 Rebound?