Netflix stock is on track for its worst day in nearly two months and a fraction higher than its 52-week low of $71.8 per share.
- Netflix stock saw its worst one-day decline since April 17.
- Meta Platforms (META) announced it is expanding Instagram for TV.
- 37 out of 50 analysts rate the stock ‘buy,’ and 13 say ‘hold’.
Netflix (NFLX) shares dropped nearly 6% on Monday, nearing its 52-week low, owing to jitters around Meta’s announcement on Instagram’s expansion into Samsung TVs, but retail investors are looking at current levels as a great buying opportunity.
Samsung Smart TVs now feature Instagram for TV. This follows an announcement from Meta, Instagram's parent company, confirming that the service is expanding its reach to include Samsung sets nationwide, alongside its existing presence on Google TV and Amazon Fire platforms.
This rollout brings Instagram Stories and curated channels directly to Samsung's larger displays. These features are designed to align with the specific interests of viewers by highlighting relevant topics and creators.
Netflix shares dipped following the news to hover near its 52-week low of $71.8 a share, but overall, retail investors are looking at current levels as a great buying opportunity.
NFLX Stock: Technical Indicators Show Bearish Bias
The relative strength index (RSI) indicator for Netflix is in the deep oversold territory, while the moving average indicator, MACD, also highlights a bearish bias towards the stock.
But, Retail Investors Are Positive
Retail sentiment on Stocktwits was ‘extremely bullish’ with ‘high’ message volumes. Retail chatter on the stock jumped over 2,000% from the previous session and has soared over 900% in the past 30 days.
One user suggested entering the stock to “rip it up”
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Another user highlighted a “beautiful blow-off bottom” and expected prices to go up from current levels.
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A user mentioned amassing a large position.
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NFLX stock has lost about 22% year-to-date, which is mostly attributable to its failed attempts to acquire Warner Bros. Discovery and Roku.
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