Streaming stocks tumbled Wednesday after Netflix lost subscribers in the first quarter and said it expects to lose 2 million net subscribers in the current quarter. Shares of Netflix (ticker: NFLX) dropped 33.1% on Wednesday to $233.36 after the streaming leader reported its first loss of subscribers in more than a decade. FuboTV (FUBO) was down 7.7%, Warner Bros. Discovery (WBD) dropped 5.7% and Paramount (PARA) fell more than 10% following Netflix’s first-quarter report. Read More...
Streaming stocks tumbled Wednesday after Netflix lost subscribers in the first quarter and said it expects to lose 2 million net subscribers in the current quarter. Shares of Netflix (ticker: NFLX) dropped 33.1% on Wednesday to $233.36 after the streaming leader reported its first loss of subscribers in more than a decade. FuboTV (FUBO) was down 7.7%, Warner Bros. Discovery (WBD) dropped 5.7% and Paramount (PARA) fell more than 10% following Netflix’s first-quarter report.
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