Netflix shares drop 23% after it loses 200K subscribers

Investors had already been bailing out of the company’s once high-flying stock amid a dramatic slowdown in subscriber growth.

If the shares behave similarly in Wednesday’s regular trading session, Netflix’s stock will have lost more than its value so far this year.

It marks the fourth time in the last five quarters that Netflix’s subscriber growth has fallen below the gains of the previous year, raising investor fears that its streaming service is mired in a malaise that has been magnified by stiffening competition from well-funded rivals such as Apple and Walt Disney.

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