Well, maybe that was a wake-up call. Netflix reported 221.6 million worldwide subscribers for the first quarter when analysts had expected 224.5 million.
So owing to what computed to a 1.29% miss, Wall Street traders threw an epic hissy fit, dinging its market cap by $55 billion or more than 35% in a single day’s trading.
But that’s barely the half of it. At today’s battered price, Netflix’s market cap stood at $100 billion—a very far cry from the $306 billion peak reached last November 17th.