Netflix shares opened lower on Wednesday on the New York Stock Exchange, penalized by a note from Wedbush Securities, which announced that it had removed the stock from its 'best ideas list'.

The broker said it was maintaining its 'outperform' rating on the stock, due to what it sees as the driving force of growth in sales, earnings and free cash flow.

However, we believe that it will become much more difficult for Netflix to impress investors in 2024 than in 2023," he adds.

In his view, several bullish catalysts are already well embedded in the share price, such as the end of password sharing.

Twenty minutes after opening, Netflix shares were down 1%, while the S&P 500 index was up almost 0.6% at the same time.

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