Goldman Sachs Cuts Netflix (NFLX) Shares To Sell, Sending The Price Tumbling

The Canadian Dollar Gains Momentum as Crude Oil Prices Surge

Summary:

  • Goldman Sachs changed the Netflix stock from neutral to a sell.

Netflix down 68% in 2022

After re-evaluating the internet sector, Goldman Sachs changed the Netflix stock from neutral to a sell. The stock is down around 68% in 2022 and Goldman Sachs still thinks it is too expensive. According to barrons.com, Goldman Sachs analyst Eric Sheridan explained that there are concerns around the impact of increased competition on demand, a consumer recession, margin expansion and levels of content spend. Hence, the spending and competition on content are still problems, and now the possibility of a slowing economy has also become a factor.

Goldman Sachs Cuts Netflix (NFLX) Shares To Sell, Sending The Price Tumbling - 1 NFLX Price Chart

Sources: finance.yahoo.com, barrons.com

The Canadian Dollar Gains Momentum as Crude Oil Prices Surge

Rebecca Duthie

Remote Editor and writer Intern
FXMAG.COM

Rebecca has a bachelors degree in Investment Management, a Post Graduate Diploma in Financial Planning and is currently enrolled in a Masters program in International Management with a Specialization in International Finance.