Sunday, July 21, 2019

Netflix Loses $17 Billion in Value Over a Single Day

Let's be honest, constant price hikes, cancelling popular series and an ever dwindling supply of blockbuster movies is turning people off in a big way. When Disney Plus hits, Netflix, Hulu and others are going to be hurting big time.

Hours after Netflix announced it lost subscribers for the first time, the stock for the streaming giant had a terrible, horrible, no good, very bad day at market. Dropping over 10 points per share down to $325.21 by the end of trading Thursday, Netflix lost upwards of $17 billion in market value. That's not a typo — that's billion, not million. Netflix just essentially lost $17 billion dollars the very first time it lost subscribers.