Netflix stock (NFLX) has dropped since the end of October 2021 because of slowing subscriber growth.
The streaming service and production company had enjoyed a hike in subscription growth through the COVID-19 pandemic period; something that had led to an exponential growth of its revenue and stock price. The subscriptions have since reduced possibly because things are slowly returning to normalcy despite the Omicron outbreak.
The dip could however be coming to an end since the stock is likely heading to an oversold region and it could break out any moment.
To help stock investors interested in investing in Netflix stock (NFLX) dip, Invezz has created a brief article on what it is and where to buy it.
To find out more, please continue reading.
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What is Netflix stock?
Netflix stock is the stock of Netflix, Inc. and it trades in the US on the NASDAQ Stock exchange under the symbol NASDAQ: NFLX.
For those coming across Netflix for the first time, it is an American subscription streaming service and Production Company that allows viewers to watch different films and television series.
Netflix was founded in August 1997
Should I buy Netflix stock today?
If you want to invest in a dipping stock, then Netflix stock could be a good choice.
Nonetheless, it is important to note that it is not known how far the pullback shall go especially since it is attributed to the decreasing number of subscriptions; something that has to change for the stock to possibly start rising.
Netflix stock price prediction
The Netflix stock (NFLX) stock had been on a continuous rise since September 2019 before the current dip. Therefore, chances are that the stock shall resume the bullish trend pretty soon.
At the moment, all eyes are on the $515 price target.