Netflix Inc. (NFLX) in Los Gatos, Calif., offers TV series, documentaries, feature films, and mobile games across various genres and languages. It recently announced that it had entered a combination agreement to acquire Next Games to expand its internal game studio capabilities. However, the company posted disappointing results, losing 200,000 customers in the first quarter and projecting its subscribers will shrink by another 2 million customers in the second quarter.
The stock has declined 43.9% in price over the past month and 68.8% over the past six months to close yesterday’s trading session at $209.91. In addition, it is currently trading 70.1% below its 52-week high of $700.99, which it hit on Nov. 17, 2021.
