Netflix rally hinges on the next ‘Squid Game’

Margin expansion: A man scrolls through a selection of viewing choices on the Netflix application on a tablet in London. Some analysts expect Netflix’s rally to continue, projecting that the stock will reach US$800 (RM3,366) by the end of 2022. — Bloomberg

NEW YORK: Fast-growing technology stocks have taken a beating in recent weeks – and Netflix Inc is no exception.

Shares of the streaming giant are down about 11% from a Nov 17 record, in tandem with the slump in the tech-heavy Nasdaq 100 Stock Index after the Federal Reserve indicated three rate increases and faster tapering in 2022.