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Netflix has lost $24 billion in value in six days

Stock has dropped by 15 per cent since 17th July

Netflix has seen a huge hit to the company’s value since announcing its Q2 results on 17th July.

Last week the company revealed subscriber numbers for the quarter had fallen below expectations and that it had lost subscribers in the US for the first time in eight years.

Since the announcement, Netflix’s stock has dropped by 15 per cent, the equivalent of $24 billion.

The streamer’s biggest fall was on Thursday when its stock dropped 10 per cent, taking $17 billion off its market capitalisation. On Tuesday, the stock closed down $3.32 to $307.30, a price that leaves the company with a market capitalisation of $134.5 billion.

Meanwhile, analysts The Diffusion Group added its voice to the calls for Netflix to consider carrying adverts. “It is a good time for Netflix to consider an inexpensive pricing tier that would include ads, as one of its recent polls indicate that 32 per cent of users would be interested in such a plan,” it said.

“Given the rising costs of programming and growing debt, so goes the argument, it is just a matter of time before the company makes such a move.”

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