The decision to abandon the Warner Brothers Discovery deal contributed to investors having overly optimistic expectations for Netflix's future forecasts.

“But, it it also fed sort of I think expectations that the forecast for this year would be revised in a positive way. And instead, even though Netflix had a better first quarter than they expected in terms of subscriber growth and revenue, they maintained the estimates”

Netflix's ad-supported tier is an underappreciated growth strategy that provides resilience and incremental revenue.

“I think the ads strategy is what is being under appreciated here.”