what's up guys and welcome back to wall street millennial on this channel we cover everything related to stocks and investing before we jump into today's video i want to thank the daily upside for partnering with the channel the daily upside is a free business and finance newsletter that i actually use every morning to help get an edge on the latest business news check out the link in my bio to subscribe for free the past NUMBER_TOKEN months have been a disaster for high flying tech stocks with kathy wood's flagship arc etf down more than NUMBER_TOKEN from its highs the market carnage has expanded to the mega cap fan companies which had previously propped up the entire market on thursday january NUMBER_TOKENth the video streaming company netflix released earnings results falling far short of analysts expectations this caused the stock to fall by more than NUMBER_TOKEN wiping out most of its pandemic error gains this might seem surprising at first netflix has become almost ubiquitous in recent years has completely disrupted the cable tv industry if netflix's NUMBER_TOKEN million global subscribers made up a country it would be larger than brazil and they have turned themselves into perhaps the most well respected motion picture producers in history their netflix original squid game show garnered NUMBER_TOKEN billion streaming hours in its first month of release and they won NUMBER_TOKEN oscars in NUMBER_TOKEN the most of any movie studio it looked as if the company was unstoppable and they reached a market cap of NUMBER_TOKEN billion at the peak but since then the stock has lost more than NUMBER_TOKEN of its value it appears that netflix has finally become a victim of its own success for the better part of the past decade netflix was a near monopoly in the streaming space and was thus able to build a dominant position as a category leader but over the past couple years things have changed disney warner media nbc and discovery have all started investing billions in their own streaming platforms which directly compete with netflix in their most recent earnings call netflix for the first time admitted that competition was becoming more fierce and weighing on their subscriber growth for the first quarter of NUMBER_TOKEN they expect to only add NUMBER_TOKEN million new paid subscribers or less than half of the NUMBER_TOKEN million that analysts had expected the market seems to fear that the video streaming industry will become a hyper competitive doggy dog environment where none of the major players will be able to make high profits in this video we'll look at how netflix grew to become the dominant video streaming company why their stock price fell by NUMBER_TOKEN percent and what this means for the company going forward but before i go any further i want to thank the daily upside for partnering with us on this video as a content creator i'm always trying to keep up to date with recent events in the stock market and economy you can spend hours browsing through google and reddit reading about the stock market the problem is the vast majority of finance articles are generated by ai or biased career journalists that's why every morning i read the daily upside founded by a former investment banker who spent a decade on wall street the daily upside provides actionable insights and clarity on the stories shaping the business world every weekday they deliver a morning brief followed by more detailed stories instead of using clickbait headlines and biased coverage like most of us are well too familiar with they cut through the noise and give you only the most relevant information they had a great piece a few days ago explaining why microsoft is acquiring activision
START_SPONSOR_TOKEN before we jump into today's video i want to thank the daily upside for partnering with the channel the daily upside is a free business and finance newsletter that i actually use every morning to help get an edge on the latest business news check out the link in my bio to subscribe for free END_SPONSOR_TOKEN BETWEEN_SEGMENTS_TOKEN START_SPONSOR_TOKEN i go any further i want to thank the daily upside for partnering with us on this video as a content creator i'm always trying to keep up to date with recent events in the stock market and economy you can spend hours browsing through google and reddit reading about the stock market the problem is the vast majority of finance articles are generated by ai or biased career journalists that's why every morning i read the daily upside founded by a former investment banker who spent a decade on wall street the daily upside provides actionable insights and clarity on the stories shaping the business world every weekday they deliver a morning brief followed by more detailed stories instead of using clickbait headlines and biased coverage like most of us are well too familiar with they cut through the noise and give you only the most relevant information they had a great piece a few days ago explaining why microsoft is acquiring activision END_SPONSOR_TOKEN