Once again crypto is looking more stable in comparison with the stock market. The stock price of Netflix hit a major downfall in the last six months.
Recently, in the first quarter, the streaming service has lost 2lac users which is quite a disappointing number and could be the prominent reason for its downfall.
Henceforth, the streaming service is now expected to lose nearly 2 million subscribers in the long go.
Sources revealed that Netflix is now abandoning the comfort level of password sharing which may deteriorate the numbers. Moreover, expecting to mislay around 100 million subscribers. Guys, you won’t believe but there are 30 million subscribers who belong to USA and Canada.
We as human beings believe sharing is caring. No offense, but Netflix is breaching that thought which may overall adversely impact the share prices of Netflix. Moreover, Netflix should get ready to face thousands of criticism that may arise in the future.
Since 2011, this was the first time when the company has accorded losses in its financial records.
For Netflix, 2022 is not a fruitful year thereby crashing the stock prices at their uttermost fall. Furthermore, the chart patterns clearly portray an underperformance thereby losing 57% since 1st January 2022.
Technical view:
On the technical front, Netflix is trading at around $350. Here we expect more downside panic till $320—$280. Their content is good but they had major issues with their policy. Sharing is caring and Netflix needs to understand its policy. It’s a very high volatile stock because of the low entry barrier and uncertainty. Fundamentals are not as quite as healthy. We still don’t give suggestions to hold or accumulate this stock. Stock is creating pain and any sharp dead cat bounce should be the exit policy for investors in the stock. On restriction on passwords, they may give benefits to other subscribers.