Why Netflix Stock Fell 4% Today
Netflix (NASDAQ: NFLX) shareholders lost ground to a falling market on Monday morning. Its shares had shed 4% by 11:30 a.m. compared to a 1.1% drop in the S&P 500. That decline added to the year's big losses for investors in the streaming video giant. Its shares are down roughly 70% so far in 2022.
Monday's slump came as investors grew more worried about what they will see when Netflix reports its second-quarter results on July 19.
Netflix's last earnings report was particularly jarring, both for its shareholders and for the wider tech industry. The company revealed worsening engagement trends, a notable contrast to the soaring streaming demand it enjoyed during the earlier phases of the pandemic. Competition was an especially big concern as Netflix admitted that its advertising-free approach has left it vulnerable to lower-priced services.
Source Fool.com
