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Why Netflix Just Had Its Worst Day in A Decade

Investors are worried the streaming wars are about to get ugly. 

Netflix signage next to the Nasdaq MarketSite in New York, U.S., on Friday, Jan. 21, 2022. With the worst start of a year in more than a decade and a $2.2 trillion wipeout in market value, the Nasdaq Composite Index couldn’t have had a messier kickoff to 2022.
Netflix signage next to the Nasdaq MarketSite in New York, U.S., on Friday, Jan. 21, 2022. With the worst start of a year in more than a decade and a $2.2 trillion wipeout in market value, the Nasdaq Composite Index couldn’t have had a messier kickoff to 2022.Photographer: Michael Nagle/Bloomberg
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Wall Street is worried that streaming might not be such a great business after all.

Netflix Inc. shares slipped as much as 25% Friday after the company reported its slowest year of growth since 2015, and forecast its worst start to the year in at least a decade. Netflix shares have now dropped 43% over the last few months, wiping out almost $130 billion in market value.