Billionaire investor William Ackman liquidated a $1.1 billion bet on Netflix on Wednesday, locking in a loss of more than $400 million as the streaming service’s stock plunged following news that it lost subscribers for the first time in a decade. Ackman’s hedge fund Pershing Square Capital Management made an abrupt U-turn, selling the 3.1…
Ackman Gives Up on Netflix, Taking $400 Million Loss as Shares Tumble
These Netflix Analysts Aren’t Confident of a Turnaround Within the Next 18 Months
Netflix Inc. reported a revenue miss and a loss of net paid adds for the first quarter. Reacting to the quarterly results, most analysts tempered their expectations for the streaming giant. Netflix Analysts Rosenblatt Securities analyst Barton Crockett maintained a Neutral rating on Netflix shares and reduced the price target from $354 to $245. Raymond James…
No Parallels Between Netflix And Tesla, Says Ark Analyst
Tesla Inc. and Netflix Inc. may have first-mover benefits in their categories but that’s where the similarities end for the companies, Ark Investment Management analyst Brett Winton wrote in a Twitter post on Tuesday. What Happened The Tesla bull analyst was responding to early-stage venture SK Ventures’ co-founder Paul Kedrosky’s view that there are parallels between the two companies and their stocks. Kedrosky said…
‘Nice Growth’ In APAC: Netflix CEO Highlights Rising Subscription Numbers In Key Region
The 200,000 subscribers loss came as one of the biggest surprises for the streaming video-on-demand company Netflix Inc’s (NASDAQ:NFLX) investors—sending its stock tumbling by 25 percent post the bell. The Asia-Pacific market emerged as a glitter of hope amid this slump for Netflix. The company said that it added about 1.09 million paid members in…
Why Has Elon Musk Blamed Netflix Slump on ‘Woke Mind Virus’?
Tesla and SpaceX CEO and prospective Twitter owner Elon Musk has addressed the recent slump in Netflix’s stock, apparently blaming the decline on the proliferation of “woke” content on the platform. “The woke mind virus is making Netflix unwatchable,” Musk posted on Twitter Tuesday in reply to a report that Netflix shares had cratered in…
California’s Pension Fund Saw $700 Million Go up in Smoke Following Earnings-Triggered Sell-Off in Netflix
Netflix, Inc. shares suffered a bloodbath on Wednesday, having shed over 35 percent in a single session, following its disappointing quarterly results and weak guidance. One of the largest U.S. pension funds, which held a chunk of the streaming giant’s shares, incurred a massive loss amid the plunge. What Happened The California Public Employees’ Retirement…
Netflix Shares Loses $50 Billion After First Subscriber Loss in Over 10 Years
April 21, 2022
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Shares of video streaming platform Netflix plunged on April 20 after it announced it lost subscribers for the first time in over a decade, attracting downgrades from multiple investment firms. Netflix announced on Tuesday that it had lost 200,000 members internationally in the first quarter of the year, the first time there has been a…
IBM, Stride Rise; Netflix, Baker Hughes Fall
April 21, 2022
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NEW YORK—Stocks that traded heavily or had substantial price changes Wednesday: Netflix Inc., down $122.42 to $226.19. The streaming video giant lost subscribers for the first time in more than a decade and it expects those losses to accelerate this quarter. International Business Machines Corp., up $9.17 to $138.32. The technology and consulting company’s latest…
BZ Chart of the Day: Netflix Stock Breaks Long-Term Support
Sometimes, markets have memories. Unfortunately for shareholders of Netflix, Inc., that isn’t the case today. A market memory refers to a long-term support or resistance level. These levels can stay intact and remain important for months or even years. But it didn’t happen with the steaming giant following the release of its latest earnings report….
How Long Will It Take For Netflix To Set Its House In Order?
Netflix, Inc. shocked Wall Street by reporting below-consensus first-quarter revenues and a loss of net paid subscribers. The Netflix Analyst KeyBanc Capital Markets analyst Justin Patterson maintained a Sector Weight rating on Netflix shares. The Netflix Thesis Netflix’s first-quarter results reinforce KeyBanc’s view that gross adds is an industry-wide challenge, given market penetration rates and increasing…
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