$170 Billion Wiped Off Netflix's Market Value: Should You Buy Now?

It's hard to fathom the quick reversal of Netflix's (NASDAQ: NFLX) business since the pandemic's onset. First, it thrived as billions of people were cooped up at home and demand for in-home entertainment surged. It also had the added benefit of an industrywide halt to content production during the initial phase of the pandemic. That meant reduced spending for Netflix coupled with an explosion of new customers.

The boom turned around as several major studios launched streaming services of their own, and economies started relaxing business restrictions. With more entertainment options, both at home and away, fewer folks came looking for a Netflix subscription. The fallout has Netflix's stock down more than $150 billion in market value. At $79 billion, Netflix has not held a market capitalization this low since 2018. The beaten-down stock price has many investors asking if they should buy Netflix.

Source Fool.com