WicktatorFX

NETF*** - The Beginning Of The End?

NASDAQ:NFLX   Netflix, Inc
Netflix is one of the many companies that used the global pandemic to their benefit. With millions being in lockdown, there was only so much board games you could play before you switched on Netflix .. and chilled.

When the pandemic hit in March 2020, Netflix saw a staggering growth of almost 100% in just a few months. In total, it went on to gain 142% from the start of the pandemic. As with all great series, it must come to an end, much like Netflix's uncontrollable growth.

Recently Netflix took a massive hit when their estimated growth in subscribers felt below par. It was projected that they'll get 2.5million new subscribers, which fell below investors expectation of 6.93million subscribers which started the year off pretty badly. Coupled with price hikes and competition from other streaming platforms, Netflix was haemorrhaging subscribers.

Recently, it took even a bigger hit. Investers were expecting Netflix to report another quarter of slowing subscribers growth but the results were even worse. Netflix lost 200k subscribers and it is expected that they'll be losing a lot more - perhaps millions.

Technical Analysis
From a technical standpoint, Netflix has started its downtrend and both fundamentals and technicals don't appear to show any signs of a reversal coming anytime soon.

Would be a good idea to sit on the sidelines for now and see how far Netflix will drop this quarter.

What do you guys think?

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