NFLX - Netflix: Chill It's Still The Streaming Leader By A Mile (Downgrade)
2024-04-20 11:30:00 ET
Summary
- Netflix stock fell nearly 15% from recent highs, entering correction territory.
- Investors are perturbed about Netflix's decision to stop reporting quarterly membership metrics.
- Netflix's scale and dominance in streaming position it for continued growth against its legacy peers.
- My two previous bullish calls on NFLX have panned out spectacularly.
- While NFLX's thesis deserves caution now, there's no need to react adversely and turn bearish.
Late Netflix, Inc. (NFLX) investors have been stunned into submission this week as the stock fell nearly 15% from its recent highs, entering well into correction territory. As a result, NFLX failed to conquer its 2021 highs at the $700 level before sellers sent it tumbling following Netflix's robust first-quarter earnings release. ...
Netflix: Chill, It's Still The Streaming Leader By A Mile (Downgrade)