Executives at Netflix should have known their stock was overvalued and used it as leverage in acquiring other companies with 100% stock. $300 billion was a lot of money they could have used.
In hindsight stock performance was the biggest advantage they had over competitors, now they have to compete with companies with bigger catalogs and more cash flow (e.g. disney parks)
I was saying this 6 months ago on Twitter and was saying it here https://news.ycombinator.com/item?id=29787420
In hindsight stock performance was the biggest advantage they had over competitors, now they have to compete with companies with bigger catalogs and more cash flow (e.g. disney parks)