Executive Summary
Netflix's amendment to an all-cash bid for Warner Bros. Discovery exposes a company bidding against itself in desperation. The streaming giant converted its cash-and-stock offer to pure cash, accelerating the shareholder vote from June to April, despite no competing bid from Paramount. This tactical shift reveals Netflix's awareness that its declining stock price ($88.24, down 5.59% YTD) was undermining deal credibility. The company's $8.97B free cash flow supports the all-cash structure, but he...
Key Investment Opportunity
Short Netflix on Revenue Growth Disappointment
Netflix's all-cash WBD bid signals desperation to maintain growth through acquisition rather than organic expansion. Heavy insider selling and declining stock price suggest management expects disappointing guidance.
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