Netflix stock plunges as subscriber growth
Netflix delivered its latest quarter of disappointing subscriber growth during the final three months of last year, a trend that management foresees continuing into the new year as tougher competition is undercutting the video streaming leader.
Netflix last week raised prices in its biggest market, the United States and Canada, where analysts say growth is stagnating. The company is now looking for growth overseas.
It capped a challenging year for Netflix after it reveled in eye-popping gains during the pandemic lockdowns of 2020 that drove homebound people to its service.
Investors, though, are getting more worried that Netflix may be nearing its peak in popularity. Those concerns have caused Netflix’s stock price to plummet by more than 40% from its peak of roughly $700 reached in mid-November.
Investors, though, are getting more worried that Netflix may be nearing its peak in popularity. Those concerns have caused Netflix’s stock price to plummet by more than 40% from its peak of roughly $700 reached in mid-November.