Jun. 23 at 2:25 PM
$NFLX has that “cheap for a reason… or cheap before everyone agrees it wasn’t” kind of setup.
The stock’s already done the work of resetting expectations after the last leg lower, and now you’ve got that classic tension: multiple compressing while engagement and cash flow stability are still intact.
The failed acquisition narrative is mostly noise at this point - markets already moved on from it. What matters more now is whether growth re-accelerates or just stabilizes at this new baseline.
I don’t think this is a clean “buy the dip and forget it” chart, but it is starting to look like one of those names where sentiment got ahead of itself on the downside.
If it reclaims momentum, it won’t stay “cheap” for long. If it doesn’t, it can stay in this chop zone longer than most expect.
