Netflix, Crypto and Copper: Investments in the Spotlight
Bloomberg Wealth reviews assets that made a splash this week.
The imminent end of the Covid era resulted in the worst first quarter in eight years for Netflix Inc., with the company missing its own forecast for new customers by millions of subscribers. The pain will extend to this quarter, as it predicts a gain of just 1 million new customers in the period compared with the 4.44 million projected by analysts.
The streaming giant got a boost from the pandemic as people stayed inside and watched movies and shows at home. Before reporting results, shares had been up 87% from their March 2020 low. The company has been warning for months now that growth was likely to slow, but the extent of the slowdown took the market by surprise. It’s also facing increased competition from services such as HBO Max and Disney+.