Stocks are down on Monday, January 24th. It’s not the best way to start 2022 if you’re investing in the NASDAQ, S&P 500, etc. However, as bad as Monday has been for investors (and there have been far worse days in the past five years), there are a few stocks which have just been battered. One of those happens to be Netflix.
Per MarketWatch:
| Netflix Inc. | NFLX, -7.47% | -8.3% | -39.5% | -48.0% | 11/17/2021 |
Netflix has dropped almost 50% from its high in November of 2021 as of 1:25 PM EST. We often cover Netflix’s competitor, The Walt Disney Company, here at That Park Place, as well as other competitors like Viacom and Warner Bros. It’s hard to think of a streak this bad for any of Netflix’s competitors in recent history.
In fact, it’s so bad that it may have preempted Netflix announcing a new season for one of its most popular shows just to stop the bleeding:
When it comes from the CEO, that tends to mean a company wanted the info out and out now. Enough with the teasers, eh?
Meanwhile, Yahoo! News is noting that for the first time ever, Netflix is acknowledging their competition may actually be harming their subscriber growth. That may mean the streaming wars are about to get far more heating as the King of Stream is taking its first lumps from far smaller platforms aiming to take it down.
For more on Netflix and other streaming platforms, keep tuning into That Park Place. And, as always, feel free to let us know your thoughts and updates in the comments below!
