by Paul Bois at Breitbart News
“It is now the worst-performing stock of 2022 in the S&P 500, down 62.5 percent year-to-date,” CNBC flatly stated.
Analysts with Bank of America, one of the nine Wall Street companies to downgrade the streaming platform, said the company’s current plans “reaccelerate growth” show a share of promise, they will likely have no “noticeable impact until ’24, a long time to wait on what is now a ‘show me story.’”
Analyst Jeffrey Wlodarczak with Pivotal also wrote on Tuesday that Netflix’s poor performance meant a reduction in “subscriber forecasts” and a substantial pushback in “profitability forecasts.”
With the closing of the second quarter…
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