Netflix Finally Says the C Word
It's a tough time to be a Netflix (NASDAQ: NFLX) shareholder.
Share prices of the streaming stock plunged 24% on Friday, nearly wiping all of its gains from the pandemic era. That's in spite of the fact that Netflix was one of the big winners early on when COVID-19 first struck, and has grown its subscriber base by nearly 60 million over the last two years.
The reason for the sell-off ostensibly was weak guidance. The streamer called for just 2.5 million new subscribers in the first quarter, much lower than its usual Q1 clip, and saw revenue growth slowing to 10%. However, beyond the headline numbers, there might be a bigger reason the stock just fell off a cliff.
Source Fool.com