GOOGL - Wall Street Breakfast: Streaming Sea Change

Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Stitcher and Spotify. Streaming sea change Netflix (NFLX) lost more than a third of its value yesterday, shedding more than $50B in market capitalization as shares tumbled 35%.The last time the stock fell like that was nearly 18 years ago, on Oct. 15, 2004. Netflix (NFLX) stock slipped nearly 41% that day, all the way to a split-adjusted $1.47 from $2.49 the session before. It’s a staggering loss for a company that is an original FAANG stock, considered a bedrock of growth stocks. Netflix (NFLX) lost a net 200,000 subscribers for the quarter and forecast that it would shed 2M more in the current quarter. That's launched talk of whether the company is saturating its total addressable market. On the earnings call the company seemed ready to throw a

For further details see:

Wall Street Breakfast: Streaming Sea Change