There’s always a reason. Pretextual reasons for stocks falling abound - Wokeism, password sharing policy pissed people off, etc. but those are always either marginal or completely irrelevant.
Netflix is likely the target of a short attack where their stock price is undermined via financial engineering, in order to reduce their ability to fundraise and make it easier to acquire them which clears the way for a monopolization of the market. Wall street wants 2 things (domestically) - to have a portion of every dollar spent go to them via a monopoly on everything (amazon = CHOAM from Dune) and a portion of every dollar earned earmarked for them via getting every american into debt.
Also, the decrease in subscribers is very real and is likely the result of no specific decision but of the fact that inflation is at all time highs (I think we are likely over the levels of the 1970s) and wages are still stagnating. People are having to make decisions they didn’t have to make a couple years ago. Welcome to the depression comrades.
Edit: the reason I think they are being shorted is because sentiment does not evaporate that quickly on an established company like netflix and there are too many parties who would benefit from their demise.
The New Golden Age Of Piracy has begun!
Seems cracking down on the institution of password sharing was not a good idea
imo its more of a desperate idea to increase subscriber numbers, which were not growing fast enough to justify such a high stock valuation
They stopped my Canadian elderly in-laws from using my account around the beginning of last year when everyone was stuck inside for the pandemic. We hardly EVER used it, and the only reason I had it at all was because the in-laws watched it from time to time.
The second we realized they’d blocked them from using it, I went and cancelled the “premium” subscription I’d had for about 7 years.
I don’t miss it at all. We can always download anything good that they put out anyway.
Piracy is better
Serves them right.
