New Evidence Shows These 2 Moves Caused Netflix Stock to Rise Like a Phoenix From the Ashes
Like many technology stocks, (NASDAQ: NFLX) has taken it on the chin over the past year or so. After hitting its peak in late 2021, the stock plunged more than 75% as fears grew that Netflix was past its prime. However, investors may have been too quick to dismiss the streaming leader. Over the past year, Netflix stock has risen like a phoenix from the ashes, gaining 150% since it bottomed last June.
There's little question that Netflix's return to subscriber growth -- after suffering two consecutive quarters of year-over-year declines -- was the catalyst that fueled the stock's initial resurgence. However, Netflix has since made two strategic moves that helped pull the company back from the brink and catapulted the stock to its highest levels since the height of the pandemic.
Let's take a look to see how these strategies are playing out.
Source Fool.com
Netflix Inc. Stock
Currently there is a rather positive sentiment for Netflix Inc. with 82 Buy predictions and 9 Sell predictions.
As a result the target price of 608 € shows a slightly positive potential of 3.23% compared to the current price of 589.0 € for Netflix Inc..
