Netflix Drops $19 Billion in Market Value

Netflix market value plummeted 8% today, eliminating $19 billion from the company’s market capitalization. After healthy growth in Q2 this year, poorer performance in Q3 may have contributed to a loss of interest among investors.

The company saw a subscriber increase of 10 million during Q2, in part due to the Covid-19 lockdown restricting people to their homes. However, the lockdown also caused a slow-down in regular content production, leaving an uncertain future for the streaming company.

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