Shares of fallen streaming giant Netflix (NFLX) have endured a painful crash this year. The valuation reset is ongoing, and this market will find a new range for the former high-flyer to settle down in. For now, many investors are likely to take a hit on the chin by attempting to catch a falling knife. Billionaire investor Bill Ackman took a quick loss by catching Netflix after its first post-earnings flop. The second round of earnings results was just as painful for shareholders reluctant to ditch the ailing FAANG stock in its trying moment. Undoubtedly, FAANG companies are known to move past tough times en route to much higher multiples.
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Netflix (NASDAQ:NFLX)
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