Why Netflix Stock Is Down 60% This Year
As fears of a recession and the cost of living continue to rise, stocks across multiple industries have sunk in value throughout 2022. Netflix (NASDAQ: NFLX) has been one of the hardest hit, with its share price plummeting 60% since January.
A variety of events have occurred throughout the year, dragging Netflix's stock down. The company's dominance in an industry it essentially founded in 2007 with the launch of its streaming service has significantly diminished this year. What's left is a company that investors continue to doubt, despite its countless efforts to restructure its business.
Netflix's stock has been battered and bruised in 2022 as it has had to contend with rises in inflation, consumers cutting back on discretionary spending, and increased streaming competition, which has vastly changed the landscape of the industry. Plus, comparisons against the company's all-time highs of a pandemic-ridden 2021 have only exacerbated its losses in 2022.
Source Fool.com
