Netflix is ​​facing a tough time, as the company's shares have fallen amid a series of strategic and financial challenges. The decline in share value is largely related to its planned deal to acquire assets from Warner Bros. Discovery (WBD), including HBO, HBO Max, and popular brands like Harry Potter and some of the "Game of Thrones" franchises.

Experts explain that, although these assets could generate large profits in the future, the debt associated with the deal, estimated at between $50 billion and $61 billion, makes the acquisition a big risk. There are fears that the investment could turn into a “cash pit” that is difficult to manage.

In addition, unexpected competition from Paramount, which offered a more expensive deal, created uncertainty for Netflix shareholders, causing the market to react with strong fluctuations. The Netflix deal is expected to be approved by WBD shareholders in April 2026, and with regulatory processes in the US and Europe, its completion could take up to 18 months.

Analysts warn that Netflix shares could remain volatile until the deal is finalized, creating periods of losses and anxiety for investors. In this context, investment experts do not include Netflix among the most recommended stocks to buy now, suggesting that the risks are high compared to the possibility of immediate profits.

If the deal falls through, Netflix would save billions of dollars and could seek cheaper content options, a scenario that could please shareholders in the short term but also presents the company with other strategic challenges. In short, Netflix faces a long and unpredictable road ahead, and investors should be prepared for volatile markets and strong swings in the months ahead.