Jim Cramer tells viewers he wants to buy Netflix, arguing the market is overreacting to the company’s deal hesitation

Netflix was a focus on Jim Cramer’s “Mad Money,” where the former hedge fund manager argued that investors have been treating the company’s outlook too harshly.

A caller asked whether there was “something fundamentally wrong” with Netflix, and Cramer responded that the debate around Netflix has shifted from fundamentals to sentiment. He said the market has turned against the “FAANGs” and “Mag Sevens,” bundling Netflix into a broader group of large technology and media names that investors have been skeptical about.

Cramer tied the present mood around Netflix to a specific narrative: Netflix’s attempt to buy Warner Bros. Discovery. In his view, the market cannot seem to move past that episode, even after Netflix ultimately did not pursue the acquisition.

Speaking on the June 9 broadcast, Cramer described the “biggest headwind” for Netflix as the company’s engagement with the idea of buying the Warner Bros. studio, adding that many investors assumed Netflix “don’t know what they’re doing.” He said Netflix took the “optionality” it had, debated the opportunity, made a decision, and then stepped back, which he said will look less damaging in hindsight.

Cramer also pushed back on the idea that Netflix’s business growth has slowed in a way that should dominate the stock. While acknowledging the existence of investor concerns, he argued that the current pricing reflects the acquisition-related stigma more than the underlying operations.

In the same segment, Cramer said he would “want to buy Netflix” and pointed to the stock’s recent decline as an illustration of opportunity. He said he was looking at the shares after they had fallen “down 13%,” describing that drop as “not bad.”

For context, Netflix is a streaming entertainment company offering TV series, films, documentaries and games, according to the description cited in the broadcast reporting. The remarks placed those core products in the background while making the near-term trading psychology the story.

It was not clear from the broadcast reporting what, if any, further corporate actions Netflix may take regarding media deals, or whether management has updated investors on strategic priorities beyond addressing the market’s reaction. The episode also did not provide detailed financial metrics in the cited coverage, so investors seeking clarity would still need to look to Netflix’s own disclosures.