There have been many pandemic era stars that have lost their luster as normalcy has resumed, but perhaps few narratives have changed as much as the one regarding Netflix (NFLX). It might have always been inevitable the streaming giant would encounter a significant dialing down of the growth activity seen during the Covid lockdowns, but the extent of the downfall has been particularly eye-catching; along with losing subs – 1Q22 marked the first instance of Netflix losing subscribers in a decade – the share price has come crashing down – to the tune of 71% since the turn of the year.
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