Netflix Is Still Too Low to Short and Too High to Buy
“Generalissimo Francisco Franco is still dead.”
– Chevy Chase, Saturday Night Live
SNL Weekend Update: Generalissimo Francisco Franco
Despite protestations from most of the panelists and guests on the Shows… I have said/written to avoid Netflix ($NFLX) at over $100 (in April 2026), at $85 (in June 2026) and again last week at over $70.
And I will say it again, today — at $63.
I still would not bottom fish in Netflix’s shares.
From last week:
My View on Netflix
Repeating for emphasis, I would not bottom fish in Netflix (NFLX).
I expect in line-to-better 2Q2026 results but a possible lower forward guidance as margins are pressured.
From last month:
Netflix Is Too Low to Short and Too High to Buy
I would continue to avoid buying (and “bottom fishing”) in Netflix (NFLX) for the reasons I have previously mentioned:
* Netflix has nearly saturated the domestic market (as well as many other developed countries). These markets are significantly more profitable than the non developed arena.
* Future Netflix sales/profit growth will come from developing country markets that provide substantially less revenue (and income) per subscriber.
* Netflix’s original content programming has been unspectacular over the last 12 months (or more) — and existing content has suffered.
In the past I have been short NFLX, but it is no longer priced as an attractive short.
Position: None
BY Doug Kass · Sep 22, 2026, 1:50 PM EDT
Position: None
BY Doug Kass · Oct 20, 2026, 4:09 PM EDT
Position: None
