Netflix (NASDAQ: NFLX) is the world's largest streaming platform for movies and television shows. According to the company's earnings report for the first quarter of 2024, it extended its lead at the top of the industry as its subscriber base grew to a new record high.

Unfortunately, investors sent Netflix stock plunging 9% immediately following the release of its Q1 results. They appeared to take issue with management's decision to cease reporting subscriber figures beginning in 2025. Broader stock market conditions didn't help, because the Nasdaq-100 technology index sank 6% last week, exacerbating Netflix's decline.

Despite this seemingly gloomy backdrop, there are three reasons investors should take this opportunity to pounce on the stock.

Continue reading

Source Fool.com