Netflix Shares Down Nearly 40 Percent as Analysts Downgrade on Failed Subscribers

Netflix stocks continued their free fall Wednesday after analysts lowered shares following the left-wing streamer’s disastrous first-quarter results, which saw a loss of 200,000 subscribers and an expected loss of 2 million more in the coming months.

The stock fell as much as 12 percent in Wednesday’s morning trading, bringing the stock’s total loss since yesterday’s closing bell to more than 37 percent. Since the beginning of the year, Netflix shares have plunged a whopping 63 percent.

Analysts dived on Netflix on Wednesday, saying the stock could hover around its new lows in the unforeseen future, as the streamer’s plans to straighten out could take months to deliver results. Among the analysts who have cut the stock are Wells Fargo, Pivotal Research Group and JP Morgan.

Other analysts from Goldman Sachs, Cowan and BMO Capital Markets maintained their ratings for the stock, but slashed their target prices.

Netflix attributes the poor performance to a variety of factors, including password sharing, the Russia-Ukraine conflict, and increased competition in streaming entertainment. The company’s prospects are so bad that executives are taking the unprecedented step of launching a free, ad-supported version of its service in an effort to boost revenue and compete with companies like Pluto TV and IMDb TV.

As usual, Netflix failed to name the millions of Americans who object to the awakened, left-wing content, including a series of shows from Barack and Michelle Obama, who still have a production deal with the company.

Even Elon Musk weighed in on Netflix’s results on Wednesday, saying, “The awakened mid-virus is making Netflix unwatchable.”

Netflix’s top executives are among Hollywood’s most active Democrat fundraisers. Not only have they supported the campaigns of President Joe Biden and Vice President Kamala Harris, they have also donated to far-left radicals, including Los Angeles County DA George Gascon and California Governor Gavin Newsom (D).

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