The market for streaming and entertainment has certainly become highly saturated, but few have as good of a setup as PARA does right now.
The company is still profitable and trading well below its book value. Clean balance sheet and fundamentally attractive based on Joel Greenblatt's "Magic Formula" criteria (see MagicFormulaInvesting.com - Minimum Market Cap: SEED_TVCODER77_ETHBTCDATA:5B, Top 50 Stocks, as of today 11/27/23).
On top of that, the Stock just had a beautiful bounce off of its 2020 low with no resistance in sight. Volatility is a major factor here and position sizing should be controlled accordingly, but the reward/risk ratio seems well in favor of the bulls in this situation.