Netflix’s share price has risen because it’s no longer oversold

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After a massive decline last year, Netflix’s share price has stabilised above $300. This is because of:

  • General rebound in global equity markets – especially tech stocks because interest rate hikes are expected to slow down.
  • Oversold rebound – having slumped 75% from its 2022 peak, investors decided that a punt is worth taking on Netflix.
  • Competitors’ weakness – Netflix’s losses may be less than expected this year and may even benefit from the massive losses sustained by its competitors

After a multi-month rally, the stock is not as oversold as before. A period of choppy trading may happen despite the improving macro headlines.

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