Netflix (NFLX): Bull vs Bear, Is This a Buy After Falling 50%?

This week Stock Club tries something new: instead of each picking a different stock, Emmet and Mike go head to head on the same one. Mike makes the bear case against Netflix (NASDAQ:NFLX), and Emmet, a 22-year shareholder, argues the bull case, both from today's price after the stock has fallen roughly 50 percent from its all-time high in June 2025. Mike lays out the risks: stagnant viewership growth, a weak Emmy season without a breakout hit since Stranger Things, saturation in Netflix's most profitable markets, competition for attention from TikTok and YouTube, and the pressure of rising content costs in live sports. Emmet counters with Netflix's position as what he calls the world's default TV channel, improving unit economics, double-digit revenue growth across every region in Q2 2026, a fast-growing ad tier approaching $3 billion in revenue this year, and a valuation that's fallen from roughly 40 times earnings to under 20. They wrap with their take on the collapsed Warner Bros. Discovery acquisition and why walking away from that deal might have been one of management's smartest moves this year. #MyWallSt #StockClub #Netflix #NFLX #BullVsBear #StreamingWars #StockAnalysis #ValueInvesting Stocks Mentioned: Netflix, Inc. (NASDAQ:NFLX) 0:00 Intro: A New Bull vs Bear Format 1:05 Why Talk About Netflix Now? 2:22 The Bear Case Begins: Why Has the Stock Fallen? 3:13 Stagnant Viewership & a Weak Emmy Season 7:37 Saturated Markets: The Growth Problem 9:49 Competing for Attention: TikTok, YouTube & Younger Viewers 18:11 Netflix's Stock Journey: $20 to $130 to $67 19:27 Live Sports Costs & Margin Pressure 21:30 The Streaming Fatigue Problem 28:18 The Bull Case Begins: 22 Years as a Shareholder 33:17 Three 40,000-Foot Observations on Netflix 40:11 The 2026 Selloff as a Buying Opportunity 44:34 Q2 2026 Results: Revenue, Margins & Guidance 46:20 International Growth Across Every Region 49:18 Advertising: The Next Growth Engine 52:36 Why Walking Away From Warner Bros. Discovery Mattered 56:46 Closing Thoughts & Listener Feedback Request At MyWallSt, we believe great investing is about patience, discipline, and owning outstanding businesses. Our team researches global stocks, publishes transparent performance, and helps investors build long-term wealth without hype or guesswork. Horizon is our long-term buy-and-hold service, while Prophet is a five-minutes-a-month system that has trounced the average market returns over 17 years.