Netflix slumps, as investors start to question its lofty valuation

By Kritika Lamba and Kanchana Chakravarty -Netflix shares fell more than 8% on Wednesday, as the streaming giant's outlook for the coming quarter left investors nonplussed despite a strong line-up of shows that includes the final season of "Stranger Things". Investors have become accustomed to routine outperformance from the company that propelled the stock to a gain of more than 360% over the past three years, far outpacing media bellwethers like Walt Disney and even tech stalwarts Apple and Alphabet. It has garnered additional attention with the sweeping success of the animated "KPop Demon Hunters". But since peaking in June, shares have ebbed 7%, a signal that investors are growing cautious about its lofty valuation and lack of details about subscriber growth. The company's forward pric