Netflix (NFLX) stock hit its 52-week low today and is down over 23% for the year. The streamer has looked weak after peaking in the first half of 2025 and has since lost nearly 46% of its market cap. Nothing has seemed to work for Netflix over the period. NFLX stock fell in the back half of 2025 after the company announced its intent to buy Warner Bros. Discovery’s (WBD) assets, which markets believed would leave it saddled with too much debt. The company eventually walked away from the deal, which led to a short-term spike in the stock, but recently it has fallen after reports that it lost out in its bid to acquire Roku (ROKU), which would be acquired by Fox (FOX).
Previously, Netflix shares rallied spectacularly in 2023 and 2024. The gains were preceded by a brutal 2022, when U.S. tech stocks plummeted. However, while the broad-based tech rally in 2023 supported Netflix’s price action, markets gave a thumbs-up to its ad-supported plan and password-sharing crackdown. Thanks to these measures, Netflix—which lost subscribers in the first half of 2022—added nearly 100 million new subscribers between 2023 and 2025. Many of the new members are getting onboarded on the cheaper ad-supported plan.
