Why No One Has Jumped at Buying ‘Bite-Sized’ Netflix Right Now

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The streamer has shed upwards of $200 billion in value since November, which actually makes it priced to sell

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Netflix stock has plunged since November. (TheWrap)

Netflix has seen its market cap drop from more than $300 billion in November to less than $90 billion as of Wednesday. The leading streamer’s enterprise value, which ballooned to $277.3 billion last year, is down to around $100 billion. The steep declines have made the company a ripe acquisition target on the open market, but Hollywood has been strangely silent.

“It’s bite-sized for any number of companies out there,” Dale Wettlaufer, CEO of Charlotte Lane Capital, told TheWrap. “I’m surprised we haven’t seen a whole lot of speculation on it.”

There are financial and legal reasons that may partly explain why suitors aren’t eagerly lining up to take advantage of Netflix’s hard times.