Citron expects Netflix to dip back to $340 near term and warns investors about buying this dip…We think Bob Dylan would agree.
Citron $NFLX calls have been spot on.
On March 12, 2018 when NFLX was trading at $330, Citron suggested that the stock had gotten ahead of itself and you would soon be able to buy it under $300.
The pundits got angry, but sure enough within 2 weeks the stock was trading as low as $285.
Despite the cheerleading from Goldman Sachs, that we discuss later, this week has seen a change in the media industry that cannot be ignored by any long-term Netflix investor. The Justice Department approval of the AT&T Merger is the first step in traditional media’s efforts to compete against NFLX in the new streaming world.