Netflix.
Similar to Apple pre-iPhone or early Google, we all loved Netflix early on, it seemed.
I enjoyed bingeing entire seasons of 24 and then you had some original shows that were cool, too.
And then you got cocky.
And your millennial and GenZ investors got cocky.
Just like everyone from 2018 to 2020 that thought they were stock-picking geniuses and should start a service on twitter, it turns out it was just momentum run amok. It was truly bubblicious.
Of course it was.
$100b mkt cap. Then #200b. Then $300b. Hey…why not make it a cool trillion, like TSLA???
And then a funny thing happened.
Either stimmy checks ran out, or the hedge funds were done having fun, or maybe it was those constant price increases. Either way, buh bye.
This may be the catalyst needed to really flush some of the ad-tech/streaming stuff back down to Earth, after the ridiculous late 2020 parabolic runs, that haven’t quite unwinded.
I have my “ok” price on TTD being in the $40’s. Split-adjusted that is $400, and I sold it at $265 in Jan 2020. I sold because I thought it was expensive THEN. So can we eventually see $40 for TTD?
I will be very interested if so.
ROKU likely plunging, too. DIS taking an AH bath.
Our memories are short-lived though, so the question is whether NFLX by itself can reverse today’s positive Nasdaq momentum, or if most of the non-ad-tech stocks are at least able to tack on more gains.
Otherwise…well. Screw you, NFLX.
Dreamer