Former high-flier Netflix is definitely in a bad way. Here we are at lifetime highs in the stock market, and Netflix is down nearly 40% and peaked 15 months ago. Pretty sad……….and yet it’s still incredibly overvalued.
Looking at the very long term, you can see that even if does nothing more than work its way down to the bottom of its channel, there are much greater losses ahead. They just spent something like half a billion dollars for old reruns of the show Friends. I guess that says it all.
