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The whole market is down, but when you consider that (for example) Netflix is down >70% from November 2021, it's a different level of drop. It's sort of impres
by timr 4y ago
The whole market is down, but when you consider that (for example) Netflix is down >70% from November 2021, it's a different level of drop.
It's sort of impressive that GME is still holding out at around $100, however...
- paxys 4y agoNetflix wasn't even a "meme stock". Some companies will do worse (and some better) than others at any given point in time, that much is obvious. There's definitely a correction afoot, but twisting the narrative into "see you shouldn't follow the online hype, instead invest into wherever we tell you – Bloomberg" is pretty deceiving.
- FormerBandmate 4y agoGME is propped up by a cult with almost millenarian views of the stock market. It’s more like a giant penny stock scam from the 00s than anything
- TheHypnotist 4y agoRight. The money was that was to be made was made. Everyone else is holding the bag now.
- kevin_thibedeau 4y agoNetflix has a fundamental problem with its business burning money to make mediocre content because it can't license much of the top tier any more. It has no moat and its tech is no longer special.
- marto1 4y agoDidn't you just describe most silicon valley VC funded startups ? I feel like you can replace Netflix with a lot of other companies, throw in their well known weakness and it would still make sense.
- kevin_thibedeau 4y agoA startup is notionally providing a novel or best in class service that VC investors are gambling on. Netflix's best days are behind it.