Netflix shares crashed after lost subscribers

Jaiyeorie April 21, 2022

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Netflix shares were down more than 35% early Wednesday after disappointing earnings, but the Dow was up in a mixed start for US stocks.

For the second quarter in a row, the streaming behemoth surprised Wall Street by announcing a loss in subscribers for the first time in a decade.

The corporation attributed the decline to the suspension of its service in Russia as a result of Moscow's invasion of Ukraine.
The dip in stock was similar of the previous quarter, when Netflix's stock plummeted due to a bleak subscriber outlook.

The Nasdaq was down 0.7 percent at 13,522.73 as a result of Netflix's decline.
The Dow Jones Industrial Average rose 0.5 percent to 35,084.97 minutes into trading, while the broad-based S&P 500 rose less than 0.1 percent to 4,464.19.