Netflix stock continued to fall at the start of a new week, marking the extension of similarly perceived developments from earlier this month.
Per a report fromVariety, Netflix stock was trading at $353.31 a share at around 11:50 a.m. ET on Monday. That’s down from the closing number of $397.50 a share from last Friday. At the time of this writing, the stock was trading at $358.49 a share.
Monday’s numbers follow recent reports of market cap (i.e. the total dollar value of outstanding stock shares) dropping by billions, a widely headlined development that was preceded by word that the company had added roughly 200,000 less new subscribers than it had forecasted for the period ending in December.
Predicted for the first quarter of 2022, per a recent MarketWatch report, is the addition of 2.5 million net new subscribers, which is less than half the FactSet-cited number (5.8 million) analysts were projecting. As pointed out in the same report, Netflix swiftly lost $49.1 billion in market cap on Friday. The Wrap, meanwhile, later put that number at a firm $50 billion.
At the time of this writing, Netflix’s market cap was reported as $162.96 billion. In 2021, the streamer had a market cap of $272.01 billion, marking (as broken down in finer detail here) a boost of just under 14 percent when compared with 2020 numbers.
Also addressed in recent shareholder documents, notably, is the increased competition in the streaming space. In the latest docs, Netflix notes that—while competitors “may be affecting our marginal growth some”—the company is expected to continue its growth.
Complex has reached out to Netflix for comment.
