Sometimes there are matchups that sound so patently goofy on the surface that they have to be seen to be believed. And Netflix (NASDAQ:NFLX) is enjoying a bit of a renaissance in Thursday’s trading thanks to one such match: Jake Paul vs. Mike Tyson. The combination of a YouTuber-turned-fighter and a former heavyweight champion, perhaps best known for his unusual taste in in-ring snacks, proved to be too good for investors to pass up.
The match in question will take place on July 20 at AT&T Stadium in Arlington, Texas. It will be the night’s main event and Netflix’s first-ever run into “combat sports.” It’s actually the third time that a sporting event has been carried live on Netflix. Some even regard it as a “lifetime dream matchup” and could be one of the most-watched sporting events in history.
Though more than a few of us likely associate Jake Paul with his brother, disgraced YouTube celebrity Logan Paul, Jake Paul already has quite a record under his belt, having successfully defeated former NBA star Nate Robinson in a previous bout.
Holding the Top Slot
Thanks to material like this, Netflix has emerged at the top of the heap in streaming video. Now, various other platforms are rushing to stage mergers in a bid to better compete against this new champ and hold out against possible closure outright. While even Netflix suffered losses in a recent tidal shift in streaming, the move to restrict password sharing and launch an ad-supported tier brought customers back into the fold. Now, it’s content like this that will hopefully keep those customers in place, paying their monthly subscription dues and keeping profits up.
What is the Stock Price Forecast for Netflix in 2024?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on NFLX stock based on 26 Buys, 13 Holds, and one Sell assigned in the past three months, as indicated by the graphic below. After a 93.78% rally in its share price over the past year, the average NFLX price target of $576.41 per share implies 4.55% downside risk.
