Jul. 22 at 2:20 AM
$NFLX
Despite those concerns, Cramer said Netflix has become much more attractive after its nearly yearlong retreat. He said the stock is trading at roughly 19 times this year's earnings estimates, its cheapest valuation since 2022. Netflix also repurchased
$4.7 billion of stock during the second quarter, its largest quarterly buyback ever, and still has roughly
$27 billion remaining under its buyback authorization.
"I think there's a reason why these guys are buying back stock at the fastest pace in history," Cramer said.
He added that Netflix remains one of the industry's strongest businesses, with growth opportunities in advertising, live programming and gaming.
"This isn't a broken company," Cramer said, adding, "It's one of the best companies around, with one of the best products."
Still, Cramer cautioned investors not to expect an immediate rebound, saying he "wouldn't be surprised if the weakness sticks with us for a while." https://finance.yahoo.com/markets/stocks/articles/nflx-stock-fallen-44-over-235741737.html
