Video streaming platform Netflix is going through a difficult time in the context where stocks have fallen on the Nasdaq by over 46% since the beginning of the year amid unexpected user losses.
Netflix is going through a difficult time in the context where shares fell to Nasdaq by more than 46% since the beginning of the year amid unexpected customer losses, Mediafax reports.
If, at the beginning of July, the video streaming giant's actions approached new record highs, unexpected loss at the user level, and growing competition in the streaming market, they set Netflix shares to erase the entire evolution of 46% This year. and officially sent them into negative territory on Monday.
Netflix stock closed at $ 295.92 on Monday, with a market capitalization of $ 116.4 billion.
The company has received constant bad news in recent months. First, the most popular platform show – "Office" – was removed from Netflix by NBC.
Netflix then faced an unprecedented loss to US customers and missed the target of new customers in the second quarter, which hit a large stake in the company and led to the longest decline in the stock market. for the last five years.
Consequently, a long series of announcements by giant media companies launching their streaming services – Apple, Disney, WarnerMedia, NBC – have done a fatal blow to the company.
Some Wall Street analysts trusted Netflix shares, which most have praised.
For example, Canan Venkateshwar, a British analyst at Barclays, says Netflix shares are "Very Expensive" within the new framework, in a context when Netflix will need millions of new users that it can't get.