Since the market opened this morning Netflix stock price has fallen by more than 35%, the price fall came shortly after the company announced it had lost more than 200 000 subscribers in the first quarter of 2022 and are forecasting losing a further 2 000 000 subscribers in the coming quarter. The drop in value comes hand-in-hand with investor sentiment and the post-covid world. In addition, subscribers are seeming to be rethinking their subscription commitments to the streaming service.
Related article: Japanese Yen (JPY) Weakens Against The Dollar, USD/CAD Stable And The Inevitable Strengthening Of The USD, IMF/World Bank Events
The current market sentiment, Elon Musk and other factors causing Netflix stock price to dive.
The price of Netflix’s stock has also been affected by more competitors entering the market, the loss of 700 000 Russian subscribers as a result of the Russia-Ukraine conflict, consumer budget tightening as a result of the current market conditions and Elon Musk’s opinion on Netflix’s shares being affected by the ‘woke mind virus’.
Given the forecast for the next quarter, the stock price of streaming service is unlikely to see any large increases anytime soon.
Netflix Price Chart
Sources: Finance.yahoo.com, Theguardian.com, nypost.com
