Facebook, Netflix share prices are crashing | Here's why
India Today
Share prices of both Facebook and Netflix were down on the US stock market.
Facebook and Netflix share prices continue to fall on the US stock market, making investors jittery amid rising global inflation and fears of recession. Shares of both the social networking giant and the online streaming platform were declining fast.
Netflix's share price was down by 3.52 per cent to $218.22. Shares of Netflix are listed on Nasdaq.
On Thursday, Netflix's share price plunged more than 30 per cent after the popular streaming platform reported a loss of subscribers for the first time in a decade.
Facebook's shares are listed on Nasdaq under the name of its parent firm, Meta Platforms Inc. Facebook's share price fell 6.16 per cent to $188.07.
In February, shares of Facebook owner Meta plummeted 26 per cent, the biggest single-day slide in market value for a US company. The came as as Facebook lost daily users for the first time.
The social media giant issued a dismal forecast, blaming Apple Inc's privacy changes and increased competition.
As for what happens to Netflix, Nicholas Colas, co-founder of DataTrek Research, drew a parallel to how Meta Platforms or Facebook has traded since its own earnings-related meltdown on February 3, as per a Reuters report.
