Netflix’s world has been turned upside down as stock plunges 35%

New York (CNN Business)Call Eleven and Sheriff Hopper of “Stranger Things,” because Netflix’s world has been turned upside down.

The company reported Tuesday that it lost subscribers for the first time in more than a decade. The news shocked Wall Street and sent shares plummeting 35% Wednesday morning, wiping out $50 billion in market cap. And this was after the company’s stock had dropped more than 40% year to date.
Simply put, Netflix’s terrible 2022 has now become disastrous.

 

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