Netflix shares fall near pre-pandemic level as investors fear slowing subscriber growth, competition [CNBC]
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Source: CNBC
The decline could spell trouble for other media companies that have reorganized around streaming video growth during the pandemic. Netflix has lost about its half value since its stock price peaked in November. Netflix has gone from airing “Squid Game” to becoming a player in it. The streaming company's stock price sank 6.6% as of mid-day Monday, reaching as low as $371.37. That follows Friday's 22% plunge , which was the steepest one-day drop since July 2012. Netflix shares are now down about 47% from their record intraday high in November and are trading at their lowest since April 2020, when Covid-19 was in the early days of shutting down the U.S. economy. The drop has been so precipitous, it's almost as if the pandemic never happened for Netflix investors. Of course, Netflix's business boomed in 2020 and through much of last year as people were stuck at home in quarantines. The company added more than 36 million subscribers in 2020 and 18.2 million in 2021. The stock pu
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