Is Now the Right Time to Buy Netflix Stock?
We're slightly more than nine months into 2022, and Netflix (NASDAQ: NFLX) shares are down 62% for the year. For a stock that produced a remarkable return of 6,000% from the start of 2012 through the end of 2021, this is a rude awakening.
The streaming industry is becoming hyper-competitive, a fact that management can no longer ignore. What's more, Netflix itself is undergoing a major strategic shift in an effort to spur growth once again. Should investors buy the top streaming stock today? Let's take a closer look.
Netflix has had a rough time in 2022, losing a combined 1.2 million subscribers in the first six months of the year. This is a far cry from the massive customer additions investors have become used to seeing in recent years. And unsurprisingly, revenue growth has dramatically slowed. Sales of $8 billion in the second quarter were up just 8.6% year over year, the slowest pace in at least the last nine years.
Source Fool.com
