NFLX - Netflix Is Back. Here's Why the Streaming Stock Should Be on Your Buy List.
2024-01-24 08:18:00 ET
Investors all but gave up on Netflix (NASDAQ: NFLX) stock in 2022. The leading streamer posted two straight quarters of subscriber declines, and the stock plunged as investors seemed to believe the growth story was over.
However, since then, Netflix has stunned the market. The stock has more than tripled from its nadir in 2022, including Tuesday's after-hours gains, as it's adapted to the challenges in front of it, and found new ways to grow.
Those include advertising and paid sharing, and the company has begun to expand its product offerings, leaning further into games and live sports, which include a new deal with the WWE. With this new strategy, Netflix has stepped back from some of its sacred cows and shown a willingness to meet consumer demand where it is. For example, the company had refused to offer ad-based subscriptions for years and had also been reluctant to crack down on password-sharing. But both of those strategies have been successful, and the company now seems flexible in its resistance to live sports after the WWE deal.
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Netflix Is Back. Here's Why the Streaming Stock Should Be on Your Buy List.