The once-mighty Netflix was on a downward spiral. The streaming giant had lost over 200,000 subscribers in the first quarter of 2022, and investors were panicking. The company's stock price had plummeted by over 50% in the past year, wiping out billions of dollars in market value.
But the market smelled something deeper: In the US and Canada, Netflix had already penetrated nearly every possible home. The era of easy growth was over. netflix free fall