It’s only three months into 2022, and some pure-play media companies are having a terrible year.
How terrible? Losing-half-market-cap bad.
Shares of Netflix are down a startling 67% year to date, pressured by another disappointing quarter for subscriber growth and a weak outlook. The streaming giant is now in cost-cutting mode — Meghan Markle’s animated series ‘Pearl’ is now off — in an effort to boost profits with its top line slowing.
“Netflix is a growth company, but no longer a premium…
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