..as I did mention in a post a few days back, an earnings miss or poor guidance on a major tech could be a catalyst for the downdraft...and here it comes. https://www.tradingview.com/symbols/NASDAQ-NFLX/
Netflix stock is down 17% post market close, which means S&P500 and Nasdaq will be hit tonight. Netflix Craters On Subscribers Miss, Catastrophic Guidance
BY Zero Hedge
THURSDAY, JAN 20, 2022 - 04:13 PM
Recent earnings reports from streaming giant Netflix have been a mixed bag: the stock tumbled one year ago when the company reported a huge miss in both EPS and new subs, which at 2.2 million was tied for the worst quarter in the past five years, while also reporting a worse than expected outlook for the current quarter. This reversed four quarters ago when Netflix reported a blowout subscriber beat and projected it would soon be cash flow positive, sending its stock soaring to an all time high - if only briefly before again reversing and then tumbling three quarters ago when Netflix again disappointed when it reported a huge subscriber miss and giving dismal guidance, leading to the second quarter when Netflix slumped again after the company missed estimates and guided lower. This again reversed last quarter when Netflix soared after it blew away expectations and guided to a whopper Q4.
Which brings us to today, when the stocks has tumbled back to the middle of its range for much of the past two years, with investors on edge to find out not whether the company would confirm its impressive guidance. Said otherwise, how many new subscribers did Netflix add in the third quarter? That number, for the company which ended the third quarter with more than 213 million subs, will sway how the company’s stock moves in after-hours trading. In other wrods, will Netflix’s “monster quarter for content” translate into outsize subscriber gains? That’s the question Wells Fargo analyst Steven Cahall asked in a research note Wednesday. New films, such as “Red Notice” and “Don’t Look Up,” and the limited series “Squid Game” were the most-watched in Netflix history.
