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Comment on Drop in Netflix share 35% since last night By Asheesh Chanda, Kristal.AI
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Below is comment on Drop in Netflix share 35% since last night By Asheesh Chanda, Founder and CEO at Kristal.AI
“It's inflation stupid". High cost of essential items is forcing customers to cut back on discretionary spends. Clearly streaming services are not an essential item for households, which all seem to have assumed otherwise. As investors this clearly states that high growth tech companies, whose consumer base surged during pandemic are not immune from inflation. Looks like a double whammy for companies as their being hit both by high cost of capital and drop in revenues"
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