Netflix Inc inclusion in the prestigious “FAANG” acronym should come to an end, with its replacement being the “far less episodic” Microsoft Corporation CNBC’s Jim Cramer said during Friday’s “Mad Money.”
Netflix reported a miss on “almost every key metric” in its recent third-quarter report, Cramer said.
Among the more concerning readouts: Netflix’s subscriber growth, which fell short of expectations for the second straight quarter, the CNBC host said.
Netflix’s stock has “lost its mojo,” and with the stock trading near $275 per share, there is more downside to be seen, he said.
Why It’s Important
Among the other stocks in the FAANG group, Cramer said social media company Facebook, Inc. is “very undervalued” and belongs in the group of elite stocks so long as the U.S. government doesn’t dictate that the company has to spin off Instagram or WhatsApp….CLICK for complete article
