Netflix: Chill, It’s Still The Streaming Leader By A Mile (Downgrade)

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.

A man is holding a remote control of a smart TV in his hand. In the background you can see the television screen with streaming entertainment apps for video on demand

Giuliano Benzin

Late Netflix, Inc. (NASDAQ: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


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