If the losses hold, Netflix is poised to become the worst-performing stock this year in both the benchmark S&P 500 and tech-heavy Nasdaq 100 indexes.
Consumers feeling the pinch from inflation will be looking hard at their expenses and streaming services are a quick way to save money. Analysts across Wall Street slashed their price targets for the streaming-video company, while at least seven brokerages downgraded the stock. Netflix’s stock has suffered this year as the pandemic-era surge in user sign-ups faded and investors have turned away from high-value technology and growth stocks due to rising bond yields.
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pick-up expected in US investment-grade bond issuanceWall Street projecting $25bn to $30bn billion of new supply this week
Source: BDliveSA - 🏆 12. / 63 Read more »