No, Netflix stock isn’t dead.

Yes, the company took a hit.

Yes, the number of subscribers dropped for the first time in a decade.

But before you write Netflix off for dead, consider these factors:

First, Netflix's negative subscriber numbers is largely driven by the fact that the company chose to pull out of Russia. This is, in my view, another reason why companies may want to reconsider getting involved in politics.

Secondly, if you had invested $1,000 in #Netflix stock the last time the company had negative subscriber growth, you would have over $20,000.  The time to buy into a company is when it's down, not when it's up.    Netflix stock was severely overpriced during the pandemic.

Third, Netflix has a great deal of low hanging fruit that can lead to profitability, starting with the fact that there are 100 million shared passwords that could be monetized with a lower-tier, ad-supported system.

Fourth, the company still dominates all the streaming giants, with over 221 million subscribers. Disney is still 100 million subs away.  Let's not even talk about the other streaming services, who will never have the numbers that Netflix has right now.

Fifth, Netflix has talented management that has shown itself quite capable of solving serious problems. I wouldn't be surprised if the stock were to rally over the next two years.

That's just my two cents. But I hardly see Netflix as another Blockbuster.  I am personally going to make an investment.

Dr Boyce Watkins is a Finance PhD and founder of The Black Business School.  You can learn more by visiting BoyceWatkins.com