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Netflix Forecasts a Weaker Q3, but Is Positioned to Come Up on Top in the Long Run
Netflix stock price has dipped more than six percent, but SteelHouse CEO Mark Douglas forecasts long term success for the streaming provider.
Despite a slowdown in the rate of growth of subscribers and a bleak outlook for the third quarter as its stock price dropped more than 6 percent, Netflix is in a prime position to come out on top.
SteelHouse CEO Mark Douglas joined FOX Business host Mark Varney, who predicts that this is only a short term blip and that the streaming provider will rebound even stronger in in the long run.
“People are on the move right now – they’re moving from big cities to smaller cities, and I think that’s a positive trend post COVID that’s going to force more in-home entertainment, and Netflix is one of the leaders in that industry.”
Netflix are among a few other companies who have weathered the storm of the pandemic, all in thanks to their rapid churn of content worldwide. The drop in stock prices won’t be stay down for long, so all signs are pointing to GO for investors looking to make the most of this opportunity.