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Netflix lays an egg–down 60 bucks after hrs–amazon joins in, down $25-the other FANGS also red after hrs-

Posted by Richard640 @ 16:37 on April 20, 2021  

The market is not in the mood to be forgiving…but by morning will stocks futures be screaming to the upside?? A test of whether a correction is starting will take place this evening/tomorrow morning…

Netflix (NFLX) reported first-quarter subscriber growth that came in sharply below expectations, with user growth slowing even more than anticipated following a record year during the pandemic. Shares sank about 10% in late trading following the result

489.88 -59.69 (-10.86%)
After hours: 4:35PM EDT

Especially when you couple that with outsourcing a datacenter to AWS or MS Azure. 
Netflix’s only feather in its cap was its first mover advantage. 
But now that everybody and their grandma has a streaming service, the media landscape is even more fragmented than the time when it was broadcast vs. cable.  
I predict Netflix will go the way of AOL – an early behemoth in its space that eventually goes extinct.
 

 

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.