Bad movie: Netflix crashed and toppled Nasdaq with it
After missing forecasts for new subscribers, Netflix stock fell 22 percent and the Nasdaq fell below 14,000 points, for the first time in more than six months.
Amazon recorded a 6 percent drop, reaching its lowest price since June 2020
Walla!
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21/01/2022
Friday, 21 January 2022, 21:14 Updated: 23:04
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Yesterday (Thursday) Netflix released its fourth quarter reports for 2021, reporting earnings of 1.33 per share - higher than forecast.
The problem was not with the report but with the forecast.
In the first quarter of 2021, Netflix added about 4 million new subscribers, but forecasts for 2022 stand at about 2.5 million subscribers.
Investors punished it and the stock fell 22 percent to $ 400 today (Friday), its lowest level in a year and a half.
More on Walla!
Goldman Sachs missed the forecasts, dropping Wall Street
To the full article
Knowledge more beautiful days.
Reed Hastings, CEO of Netflix (Photo: AP, AP Photo / Manu Fernandez)
Overall, the reporting season opened on the left foot, after the Goldman Sachs missed forecasts and knocked down the Dow Jones.
The collapse of Netflix symbolizes pessimism among investors, dropping Nasdaq by 2.5 percent, below 14,000 points for the first time in more than six months.
Leading technology stocks have been severely damaged.
Amazon fell 5.85 percent to $ 2,852 a share, its lowest price since June 2020. Facebook was down 4 percent, Google was down 2.5 percent, Tesla was down 5 percent and Microsoft was close to 2 percent.
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