Netflix Stock Drops 7% After Flopping on Q1 Subscriber Goal


Out. what happened to netflix today. On the back of disappointing earnings and stock dropping more than seven percent for its worst day since november. Netflix is one of the first major. Stay at home. High growth names report. We're going to hear from the other. Big tech titans in the coming days so netflix. Shoot off a major warning flare to investors that we are in some rocky earnings ahead. Dan what do you say. Well listen if you think. Back to january when the company net flicks in particular had blowout subscriber numbers. The stock gapped up. I think thirteen fourteen percent to a new all-time high. And what did it do over the next couple of weeks. You gave all of that back so here. We are now into this print and they disappointed the stock down seven and a half percent. Today doesn't seem really that horrible. If you think about this doc in particular has been rangebound for months and months and months. i'll just tell you this though. I see a lotta those stay at home. Names not acting particularly well so it may not be great for them and then the last thing about tech says that we've seen this move into mega cap names over the last few weeks we've seen apple amazon. Kinda mount sim moves. We've seen microsoft alphabet. Do pretty well. Also i think those are really dragging up the s. and p. five hundred and then of old tech we have a chart of oracle going back twenty years this thing went parabolic over the last few months and then jim cramer caught my eye today on twitter as he often to all of us. He said it's different this time and ibm ibm breakout. We have a chart going back to january twenty so to me. The movement of mega cap tack into old tech. Seems kind of defensive. And i think the price action of some of these work from home names of the stay at home names acting particularly poorly is probably not great for tech overall

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