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

<p>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&#39;s price after the stock has fallen roughly 50 percent from its all-time high in June 2025.</p><p>Mike lays out the risks: stagnant viewership growth, a weak Emmy season without a breakout hit since Stranger Things, saturation in Netflix&#39;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&#39;s position as what he calls the world&#39;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&#39;s fallen from roughly 40 times earnings to under 20.</p><p>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&#39;s smartest moves this year.</p><p><br></p><p>#MyWallSt #StockClub #Netflix #NFLX #BullVsBear #StreamingWars #StockAnalysis #ValueInvesting</p><p><br></p><p>Stocks Mentioned: Netflix, Inc. (NASDAQ:NFLX)</p><p><br></p><p>0:00 Intro: A New Bull vs Bear Format</p><p>1:05 Why Talk About Netflix Now?</p><p>2:22 The Bear Case Begins: Why Has the Stock Fallen?</p><p>3:13 Stagnant Viewership &amp; a Weak Emmy Season</p><p>7:37 Saturated Markets: The Growth Problem</p><p>9:49 Competing for Attention: TikTok, YouTube &amp; Younger Viewers</p><p>18:11 Netflix&#39;s Stock Journey: $20 to $130 to $67</p><p>19:27 Live Sports Costs &amp; Margin Pressure</p><p>21:30 The Streaming Fatigue Problem</p><p>28:18 The Bull Case Begins: 22 Years as a Shareholder</p><p>33:17 Three 40,000-Foot Observations on Netflix</p><p>40:11 The 2026 Selloff as a Buying Opportunity</p><p>44:34 Q2 2026 Results: Revenue, Margins &amp; Guidance</p><p>46:20 International Growth Across Every Region</p><p>49:18 Advertising: The Next Growth Engine</p><p>52:36 Why Walking Away From Warner Bros. Discovery Mattered</p><p>56:46 Closing Thoughts &amp; Listener Feedback Request</p><p>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 w