Netflix Strategy Shift Spurs Worst-to-Best Comeback for Stock
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The new Netflix plan comes at a time when a high level of inflation is eating into disposable incomes at households.
Netflix Inc.'s turnaround plan is winning over investors, who have turned one of the worst-performing stocks early this year into one of the best in the second half.The catalyst for the comeback has been the streaming-video company's introduction of a lower-priced, advertising-supported subscription tier, which is expected to help the Los Gatos, California-based company to attract new customers and retain old ones. The new plan comes at a time when a high level of inflation is eating into disposable incomes at households and streaming services seem one of the first luxuries consumers are choosing to cut down on. “The ad-supported pricing tier option of $6.99 seem...