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Netflix Stock Continues Freefall in Week After Q4 Subscriber Miss

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Jennifer Maas TV Business WriterNetflix stock fell more than 10% Monday morning, continuing the steep downward trend it’s been experiencing since the streaming giant reported last week it had ended 2021 with slightly lower-than-expected subscriber gains and anticipated a weak start to Q1.At approximately 11:50 a.m.

ET, Netflix stock was trading at $353.31 per share, down from the $397.50 per share the stock closed at Friday.Last Thursday, Netflix reported a net gain of 8.28 million subscribers for Q4, again driven by markets outside North America, to reach 221.8 million total worldwide.

Netflix previously forecast 8.5 million paid net adds while Wall Street analysts expected 8.3 million, according to FactSet.Netflix shares fell more than 20% in after-hours trading Thursday, as the company forecast 2.5 million net subscriber adds for the first quarter of 2022.

For Q1, Wall Street analysts had been projecting a gain of 7.25 million subscribers, per FactSet. Investors also likely were spooked by the fact that Netflix admitted in its quarterly letter to shareholders that stepped-up competition in the streaming wars “may be affecting our marginal growth some.”Netflix’s disappointing earnings report came on the heels of its Jan.

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