$NFLX is entering into an Air Pocket of compression. What does this mean... Top line growth is slowing down, which means forward multiples will be compress. This presents the company with an opportunity to buy back shares and support the EPS growth figure which will inflect higher. At some point the forwards curve will be become too oversold and NFLX will complete the Growth to Value transition and thats where there might be real opportunities. Unless they can figure out how to growth faster than the current projections... shes gonna keep tumbling until the market feels like they too cheap to ignore.
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