Well, this is absolutely horrendous. What am i talking about? That's a great question. I appreciate you so much for asking i'm talking about the new social phenomena of netflix and lose all of your money question mark in this video. I want to be diving into how netflix has a company managed to fumble 50 plus billion dollars, but more irksome than that.

I want to dive into the smugness of mainstream financial media and how all these guys were saying to buy when, obviously people should not have been, but don't forget, they have the fancy pedigrees and they have the check marks by the name. They know what they're talking about that's what we'll be covering in this video. So, let's hop right into it. Here's the headlines that you need to know about netflix shares crater 25 after company reports.

It lost subscribers for the first time in 10 years, the first time it lost subscribers in a decade. Here's what was going on netflix had set guidance in the past quarter that they thought they were going to gain about 2.5 million subscribers. This quarter wall street. Had estimates around 2.7 million, what really happened was they ended up losing 200 000.

That is bad. That is no bueno and that's exactly why netflix absolutely cratered. Now it's earnings per share. It's revenue.

They were both fine, but this people are saying: is it a high watermark? Well, obviously, because of this development, when the market was done for the day, netflix closes down 35, wiping more than 50 billion, with a b off of the market cap. Now sometimes people get things wrong and you can see that stocks crater. This is where i think it's more frustrating for people who you know the elitism of mainstream financial media. They obviously know all and they got ta tell you what's right and if you don't listen to them, obviously you are like that's silly, but folks, right here, netflix becomes s p, 500's, worst performer of 2022..

In 2022, our boy, jim cramer, listened to everyone with a check mark by their name, netflix bye, that was on january 3rd. Well, luckily, for all of you folks, i took, i took the time out of my day to mark where he tweeted that right there right there back on january 3rd since the close on january 3rd. How are we doing right now down 62 percent? That's mainstream financial media, for you. Apparently they know all and they're way better than us, but it's not just mainstream media.

It's a lot of people on wall street themselves. Bill ackman got completely hammered by this move. Bill. Ackman's pershing square has potentially lost 400 million on paper after buying netflix stock in january, when he announced this in january, we saw a nice pop people were excited, it was a dip.

Let's get going bill, we love what you're doing, but now hodling it and now, with the report from netflix. That's down a pretty penny, but it's not just bill ackman. It's other players as well. The state of california, as in the california public employees, retirement system, is estimated to have lost over 685 million 685 million 400 million in bill ackman.

That's a billion right. There, there's still just 49 more billion to account for in this horrific horrific sell-off down 35. In one day, the worst performance in 2022 for everything in the smp 500.. Now i think at this point it's a fair question of.

Is it going to bounce back? Okay, that's! Let's dive into some of these issues here, obviously there's a lot of global things going on. I think we all know about those, but one thing that the ceo made sure to call out netflix to crackdown on account sharing, says: 100 million households don't pay. I think there's a couple ways to think about this. I think there's going to be some of that 100 million who okay if they crack down.

Well, i still like netflix, so i'm gon na go buy an account. I see that and then there were also additional talks of the ceo saying. Maybe we have a lower price option that has ads something akin to hulu okay, another thing, but then i think there's maybe some other people who are, let's claire. Let's say that they're more of a sticky customer just because if they share it and they're like well, i have it, but i don't use it.

But i know some of my friends are on it, so i'm not gon na do anything but all of a sudden if they're like calling up their buddies and they're like i don't really use it much. You don't use it much. Let's just cancel it. I can honestly see it going both ways, but you know who's a person who's not going to see it going both ways or boy elon.

The guy who's been in the news quite a bit, but obviously has some commentary on the whole netflix situation and some interesting words to say the least. Elon musk says netflix is losing subscribers because the woke mind virus is making it unwatchable. Elon musk took a jab at netflix on tuesday night right after this streaming service reported its earnings that it had lost subscribers. For the first time in over a decade the woke mind virus is making netflix unwatchable unwatchable woke mine virus.

So it's one of these things: is it an increase in competition from so many other streaming services? Is it because of so many account sharing password sharing, or is it just literally it's content if they had better content, would more people be on it very, very fair question, and with that in mind, i would love to get your thoughts in a comment below. If you enjoyed this video it'd be awesome, if you could help me out by hitting that like button and don't forget to join up with the moon gang by hitting the subscribe button, have a beautiful day i'll catch you in the next video you.