Netflix’s stock has been trending down since the beginning of the year, but it seems like it might be bottoming out.
Netflix’s stock has recently bottomed out and is now trading at $290, significantly lower than its previous level.
The current price is right below its 200-day moving average line.
This suggests that Netflix is not overvalued and has potential to rebound in the near future.
The company experienced a significant drop in revenue in the last quarter of 2018, which was due to increased competition from other streaming services such as Amazon Prime Video and Hulu.
However, Netflix still remains at an advantage when it comes to content availability because they produce original content exclusively for their platform while Amazon Prime Video only produces exclusive content sporadically.