Netflix shares plummet as subs slow

Netflix has reported a significant slowdown in subscriber growth, plummeting its shares, as its pandemic boom came an abrupt end.

Some 3.98 million people signed up for Netflix in Q1 2021, well short of the projected 6 million. In response to the news, Netflix shares fell 11 per cent in after-hours trading to $489.28, wiping $25 billion off the company’s market capitalisation.

Source: Netflix shares plummet as subs slow