Moneymoneyrcwrt

Wed Jul 24, 2019, 07:22 PM

Netflix Sheds $24 Billion in Value in Six Days After Growth Miss

Netflix's disappointing quarter reported last Wednesday has caused the streaming darling of Wall Street to shed more than $24 billion in value in six days as the stock has sunk 15 percent.

Shares of Netflix have now fallen each of the last nine trading days, as the stock began its downfall even before it released its quarterly financial report, which indicated it lost subscribers in the U.S. for the first time since launching its streaming service nearly a decade ago. Netflix also disclosed last Wednesday that it added just 2.7 million subscribers worldwide, while it had previously anticipated adding about 5 million in the quarter.

Netflix's largest fall in recent days came last Thursday when the stock dropped 10 percent, knocking $17 billion from its market capitalization. The stock closed Tuesday down $3.32 to $307.30, a price that leaves it with a market cap of $134.5 billion.

To be sure, longtime holders of Netflix stock have profited mightily as its shares have surged 3,300 percent in less than nine years, but analysts don't expect anything near that sort of return going forward, and the heavy volume of trading over the past nine days suggests many investors are cashing in on their big gains.

Was the "crack in the growth trajectory a soon-forgotten hiccup or sign of things to come?" asks Vijay Jayant of Evercore ISI. The analyst expects shares of Netflix to rebound to $380 sometime in 2020, but that's less than where they traded two weeks ago.

More...

https://www.hollywoodreporter.com/news/netflix-sheds-24-billion-value-six-days-growth-miss-1226463

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Reply Netflix Sheds $24 Billion in Value in Six Days After Growth Miss (Original post)
RCW2014 Jul 2019 OP
DDKick Jul 2019 #1
foia Jul 2019 #2
Da Mannn Jul 2019 #3
RCW2014 Jul 2019 #4
Spanish Ladies Jul 2019 #5

Response to RCW2014 (Original post)

Wed Jul 24, 2019, 07:26 PM

1. Being PC cost them viewers no question

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Response to DDKick (Reply #1)

Wed Jul 24, 2019, 07:33 PM

2. That's why I dumped Netflix.

Stupid management decision to make entertainment political.

Get woke. Go broke.

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Response to RCW2014 (Original post)

Wed Jul 24, 2019, 09:29 PM

3. Get woke, go broke. And Its going to get WORSE!

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Response to Da Mannn (Reply #3)

Wed Jul 24, 2019, 09:34 PM

4. I just don't get it. Paying for some tripe when I haven't the time to even watch my free

favorites.

Granted, I spend much time on ROKU perusing foreign news sources and damn, there are so many movie options it is almost inconceivable.

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Response to RCW2014 (Reply #4)

Thu Jul 25, 2019, 12:38 AM

5. I guess your portfolio

Took a hit yes?

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