Netflix stock! Are investors sleeping on this

Hi I am looking at Netflix and it seems like it’s dying. Idk how else to put it. There is minimal activity no motion in the stock. No catalysts. It had attempted to acquire Roku but failed and the stock fell although there were whispers that it showed interest in acquiring Lionsgate and they denied the claim. Also Netflix lost another bid a while back. So what is happening the financials look strong but it’s no warranted for the stock to fall this much. Are investors just rotating out? What’s happening?