Netflix lost more than 20% in value before markets opened in the US today. The company’s share price has been pulled from $508 to $405. The reason why Netflix lost such a great value was the report it shared.
The decline in the shares of technology companies in the United States today showed its effect on the markets. One of the giant companies registered on the NASDAQ stock exchange. Netflix cried blood today. The company’s shares tumbled by up to 20% within hours. The reason for this loss in Netflix’s share value was the quarter report it shared.
With the report it shared on the 4th quarter of 2021, Netflix showed that it fell short of the company’s expectations at some points. Aiming to gain 8.5 million subscribers throughout 2021, the company could not reach this number and announced that it gained 8.28 million subscribers. But it’s not this small difference that really strikes. He has a target for 2022.
Netflix lost more than 20% in value:
Netflix announced in its report that it expects to have a total of 224.3 million subscribers in the first quarter of 2022. This number is up to date an increase of only 2.5 million meant. Analysts had expected this number to be 6.93 million, covering the same period. Netflix’s explanations 3 times below expectations There was a sudden drop in the stock.
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Netflix shares, which hit $524 per share on January 20, were up during the trades before the markets opened. Dropped to $402. So the share is worth There was a loss of more than 20%. To make this loss even more concrete, Netflix’s market capitalization has lost billions of dollars in just a few hours. Netflix’s value per share currently appears to be around $405. It should be noted that the US markets have not opened yet.