Shares of video-streaming pioneer Netflix (NFLX) have effectively been knocked out of the FAANG basket following their horrific implosion of around 75% from peak to trough. The correction in the name has to do with a streaming market that's not nearly as bountiful as it used to be, with new rivals swooping in and firms willing to blow considerable sums of cash to gain subscribers. Though some may think the "streaming wars" are ending, given the diminishing economic profits to be had with every new entrant, I think it's still just beginning, as entertainment bundles (think video, music, and games) become more commonplace.
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Netflix (NASDAQ:NFLX)
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