Netflix stock fell 37 percent, the effect of sharp decline in subscriber numbers
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Netflix has estimated that around 100 million people are sharing their subscription passwords with their friends and neighbors, due to which its membership is declining. The company is working on a strategy to eliminate password sharing
netflix ,NetflixThere is a sharp decline in the stock of ) today, the stock in the early trading of the US markets (Stock) is broken more than 37 percent. On Tuesday itself, the company released its quarterly results. In which the company had informed that for the first time in the decade its subscribers (Subscriber) has been observed to decline. After the company’s results downgraded by many research companies, the stock has seen a sharp decline today. Netflix has feared that people in many homes are sharing their passwords among themselves, due to which there has been a decline in the number of subscribers.
Where did Netflix’s share reach?
Netflix stock has seen a decline with the start of trading today. The stock opened today at the level of 250 against the previous closing level of $ 348.61 and it fell to the level of 212.51. That is, today the stock has seen a decline of up to 39 percent. Today’s low is the stock’s new low of the year. The stock has reached the level of $ 700 in the last one year.