I’m bearish on Netflix
Posted: Jun 30, 2024
- Netflix is overvalued and struggling to break $700 - Spending money to add value but may not succeed - Introducing cheaper ad-based services but may not work - Need to invest in culturally relevant titles for different markets - Will stop reporting subscriber numbers due to flat growth - Expecting flat or missed profits on July 19th - Expecting stock to drop to $350 - Predicting ad-based streaming to fail - Investing in a $500 Strike by 10/18 (Note: This is not financial advice, just a summary of the original post)
🚨 Reddit sentiment: mixed/negative - Comments reflect a mixed sentiment with some bullish observations, but there is a stronger tone of bearishness due to increased competition, subscription challenges, and perceived decline in content quality. Summarized comments: - Netflix is spending big on Bollywood but faces challenges with low subscription fees in India. - Despite skepticism about password crackdown, Netflix retains a strong user base and potential for price hikes. - Netflix could continue to dominate as legacy cable fails to adapt, and other major streaming services like Disney and HBO might also scale. - Netflix is the only profitable streaming service but faces increasing competition from multiple new streaming platforms. - Some see a potential consolidation in the streaming service market with Disney possibly emerging as a dominant player. - Netflix is more globally present compared to other streaming services. - Some users believe Netflix's content quality has declined and its prices are unjustifiable amidst rising competition and economic factors. - Some users remain bullish on Netflix as it is the #2 streaming service behind YouTube. - Opinions vary on whether being bearish on Netflix will be profitable in a bearish market. Stock tickers discussed: $NFLX, $DIS
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