For the first time in a decade, Netflix reports a loss of 200,000 subscribers in the last quarter. Additionally, it pulled out of Russia, which accounts for 700,000 more subscribers lost.The company predicts that they will lose 2 million additional subscribers next quarter.
The stock price lost 35% of its value in a day, and it has had an extreme giveback of value over the last six months. Hollywood and Wall Street are questioning whether Netflix will be the streaming leader they were promised over the last few years.
Billionaire Bill Ackerman locked in a $430 million loss over 3 months after investing in Netflix.