Very much like Peloton has pulled demand forward, during the Covid lockdowns, and then that stay-at-home excess profits have attracted all kinds of competitors. Now Peloton faces declining demand AND higher competition. Netflix is suffering from the exact same effect.
BTW our Tools told clients to avoid/short NFLX since its stock was $500.
A laptop computer screen displaying the Netflix homepage stands against an illuminated screen bearing the company logo in this arranged photograph in London, U.K., on Tuesday, June 26, 2018. Addressing a room filled with New Delhis business elite earlier this year, Netflix Inc. Chief Executive Officer Reed Hastings offered a prediction: His companys next 100 million customers will come from India. Photographer: Chris Ratcliffe/Bloomberg via Getty Images