Netflix was one of the most successful pioneers in the through-the-mail DVD rental market, before morphing into an online streaming service.
Their appeal to millions of families was the ability for them to get access to a wide range of movies, for a much lower cost than going to a theater.
In the last few years though, Netflix appears to have hit the proverbial ice, resulting in the company losing subscribers. If this trend is not reversed, it might lead to their ship possibly sinking into the deep-water graveyard of other failed Internet companies of the past.
As with a majority of U.S. Corporations, the social and political views of those involved in their leadership teams used to be kept separate from the services they offered.
Things have changed at Netflix and other woke corporations like Disney, who have come out promoting social justice causes. They are publicly supporting divisive issues such as CRT, BLM, and sexual education for children as early as kindergarten.
In addition, the content of the movies produced by Netflix is targeting a small segment of the American population, in effect sticking their radical agenda into the faces of the majority of their subscribers simply trying to enjoy some family entertainment as they always had with the company.
As a result, a growing boycott is underway with a large number of their subscribers canceling their memberships. Netflix shares continued their free fall Wednesday after analysts downgraded the stock following the left-wing streamer’s disastrous first-quarter results that showed a loss of 200,000 subscribers and a projected loss of 2 million more in the months ahead.
The stock fell as much as 12 percent in morning trading Wednesday, bringing the stock’s total loss since yesterday’s closing bell to more than 37 percent. Since the start of the year, Netflix shares have plummeted a staggering 63 percent.
Analysts universally warned about Netflix on Wednesday, saying the stock could hover around its new lows for the unforeseeable future as the streamer’s plans to right the ship may take months to bear results. Among the analysts that downgraded the stock are Wells Fargo, Pivotal Research Group, and JP Morgan.
Netflix (NFLX) is past its prime.
“I think its best days are behind it,” said Macquarie tech analyst Tim Nollen on Yahoo Finance Live.
“Nollen is one of the few analysts on Wall Street to downgrade Netflix shares ahead of the company’s latest results. And Nollen’s call looks to be spot on.”
“Other analysts at Goldman Sachs, Cowan, and BMO Capital Markets maintained their ratings on the stock, but drastically cut their target prices.”
Netflix has blamed its poor results on a wide range of factors including users sharing their passwords allowing them to cancel down to one shared membership and increased competition in the streaming entertainment field, but the company has not acknowledged the aforementioned Exodus due to its controversial content.
Elon Musk weighed in on Netflix’s results on Wednesday, saying: “The woke mind virus is making Netflix unwatchable.”
The woke mind virus is making Netflix unwatchable
— Elon Musk (@elonmusk) April 20, 2022
My wife and I canceled our membership with no intentions of ever doing business with Netflix again.
By: Eric Thompson, editor of EricThompsonShow.com. Follow me on Twitter and MagaBook
This story syndicated with permission from Eric Thompson, Author at Trending Politics