As mertd mentioned, Netflix losing subs was an _unexpected_ loss. In their 2020Q2 10-Q, they made it clear that the increase in subscribers was being pulled fo

As mertd mentioned, Netflix losing subs was an _unexpected_ loss. In their 2020Q2 10-Q, they made it clear that the increase in subscribers was being pulled forward from subsequent years, and investors were made aware of this. The slowdown after Covid was expected, and factored into the price. It was the cutting off 400K+ subscribers from Russia that spooked investors.