in more than a decade, far underperforming expectations and worrying investors that had been betting that a handful of big tech companies would continue to grow at a rapid clip.: Netflix's stock dropped 30% when the market opened on Wednesday, instantly wiping more than US$45 billion off the value of the company.
Netflix said its decision to pull out of Russia cost the company 700,000 subscribers. But the economy isn't helping, either. Netflix signalled it could make big changes to its business as it tries to stem the bleeding. It's taking another look at how to address password sharing. CEO Reed Hastings also told analysts that the company will consider a lower-price subscription option with advertising.
Clearly, the market mood has changed. The strong reaction could set the stage for another turbulent earnings season, with investors already on edge after disappointing results from the big banks. The electric carmaker's earnings are forecast to jump 142% from a year ago. Other traditional automakers, such as General Motors, Ford, Toyota and Volkswagen are all expected to report a drop in earnings due to supply chain problems and production issues.If he isn't, that could feed Wall Street's worries that he's too busy trying to take Twitter private to deal with his management responsibilities.
Netflix overcharged so especially this year and there aren’t much movies and shows to chose from ugh
Maybe factor in prices for everything just got hiked and people are also struggling financially.
Burn baby burn disco inferno
Nice
Im staying out of it
No comments because i dont know what is going on
Where the decent content? There of load of amazing screen plays available that Neflix refuses to entertain.... if they've not thought of it or had their 'team of writers' produce it they're not interested. Bankruptcy of imagination and no interest in new ideas that are not theirs
Nooo I need my movie binge and free of commercials. Its my happy place.
Now they’re robbing taxes that’s Netflix is crying
Meta is the next Netflix
A warning sign for stocks or a good time to buy?
netflix get better content, for the price we pay Canada should not be so limited in what we can watch.
Sooner or later so called tech companies face the music and start paying taxes in the countries they operate which they avoided so far.
Buy the dip....
The woke brain disease claims another victim. If only there was a vaccine
Netflix's collapse is a warning about the dangers of pandering to woke culture. You know what they say, 'Get woke, go broke.' The reality is they fkd up large by playing ball with degenerates and now they're paying for it.
Nothing new for quite awhile.
American news...ffs
Selection is lame, prices keep going up . Anyone else miss blockbuster haha
Just like the Iraq war took away Blockbuster, the Ukraine war will take away our Netflix... Back to blockbuster!
Oh nice CTV, y’all trying to create a panic sell off in the market so you can create more news. Thanks CTV you’re the best.
Sell Netflix and buy Defense Stocks. If you haven't noticed there is a war going on right now. Canada is buying 88 fighter jets. Shuffle your portfolio accordingly.
Tip for people. Invest in a VPN. I find it makes Netflix actually worth the price. The US and UK content is SOOO much better than Canadian. If I didn't, I wouldn't have Netflix. The Canadian version is garbage
'...blamed the attrition on...Russia's invasion of Ukraine.' Why not blame the coriolis effect if you're casting about for excuses? It's pretty simple: the cost has gone up while the quality has gone down (especially for us geolocked Canadians). I'm on the verge of canceling.
they should have stopped removing the movies and tv shows as well as rasing the prices/month
Just a thought, what if we are actually TV’d out? Maybe we are active, outdoors or educating ourselves with beneficial media etc? Crazy!
Iam one of the reasons. I cancelled after they raised prices on a monthly basics. Bad way to run a buisness. 22$ a month is crazy👍
Lol if your organization wasn’t subsidized by the tax payers you would be too
Sell ! Sell ! Sell !
Look at the Trolls that never go against corporate greed but use the term Woke as a political attack. What a joke Canada is turning into, I can’t wait to retire and get the hell out of this right wing mentality of a country.
Maybe. But streaming stocks were super pumped up due to the pandemic. Then, Netflix lost a bunch of subscribers in Russia. So yeah, it's almost like the answer is probably more complicated.
It shows what a Frankenstein's monster speculative industry i.e. stocks are
Cancelling right now. You can’t tell me they weren’t making a fortune at $10/month. Greedy.
Nope. Corporate greed is the cause. Seems like Netflix are raising their rates monthly.
This is a direct result of inflation!! People will start getting rid of the extras. I wonder if this will stop when some major dominoes start to fall!!
WWIII
Poll: Is netflix boring?