Why the fuck is Netflix down 40% over the past year?

=== SUMMARY === - OP is baffled by NFLX falling 40% from mid-2025 highs and argues the company is fundamentally unchanged. - Thesis: NFLX at ~$75 is “undervalued as fuck” and due for a bull run soon. - Quality: speculative noise; no earnings, valuation, or subscriber metrics provided. === SENTIMENT === BULLISH === TRADE IDEAS === NFLX - LONG | confidence: 0.5 | sentiment: +0.7 Speaker: u/Independent-Eye9513 Thesis: 1. THE FACT: NFLX has dropped roughly 40% from summer 2025 highs to ~$75 despite continued everyday viewership. 2. THE BRIDGE: If the market overcorrected, any positive catalyst could drive a sentiment-driven rebound. 3. THE VERDICT: Speculative long based on valuation gut-check, not detailed fundamentals. 4. RISKS: Subscriber churn, weaker content slate, competition, and further multiple compression. Timeframe: short-term Key Points: - Author believes $75 is undervalued - Lacks earnings or growth analysis - Purely sentiment/contrarian bet - Community highlights service quality decline - Competition and YouTube pressure are real risks === COMMENTS SUMMARY === Most commenters disagree with the bull thesis, arguing Netflix has become worse for consumers: higher prices, lower quality programming, and restrictive policies are bleeding subscribers. Others note that NFLX was simply overvalued at a 50+ P/E with only ~12-13% growth, while competition from YouTube, Disney+, Apple TV, and others intensifies. A few acknowledge a possible bounce toward $90-100 by year-end, but overall sentiment is skeptical.