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Well, there’s a simple reason- FAANG was an acronym to describe a group of companies’ stock market performance not their underlying value. Of course it’s a rid
by Traster 4y ago
Well, there’s a simple reason- FAANG was an acronym to describe a group of companies’ stock market performance not their underlying value. Of course it’s a ridiculous grouping - Facebook and Google are ad tech companies, Amazon is a logistics company, Apple is a hardware company and Netflix is a Hollywood studio .
- commandlinefan 4y agoThat and, if you took out the N, a lot of people would be uncomfortable saying it...
- bombcar 4y agoEspecially since the original was just FANG - i suspect this has way more to do with it than Netflix particularly.
- rvz 4y ago> Netflix is a Hollywood studio. A side project of Apple, Google, Amazon and Disney. Netflix is proving to be suffocated by them and they are struggling. It's stock performance is quite woeful and has crashed 58% from its high since it was found to be inflated with hype during the 2020 lockdown gains. A crash like that in its price is due to the hype and speculation around its slowing growth and opportunity to find any remaining lucky pumps in the stock price. Now it's found to be in survival mode torn apart by its competitors and customers cancelling their subscriptions. It's not the end of the world when they cancel subscriptions with their competitors, but for Netflix, it is more than the end of the world. In fact it is the end of the universe and movie streaming subscriptions is their whole universe. Microsoft is more than worthy of this 'group' rather than struggling 'Netflix'.