Netflix sheds nearly $50 billion in market cap after ‘borderline catastrophic’ forecast.

Netflix shares plummeted 21.8% Friday, lopping off $49.1 billion in market capitalization from the streaming giant, which had ended Thursday’s trading session worth about $225 billion. That decline is more than the total market cap of Zoom Video Communications Inc. ZM, -5.23%, which was worth less than $47 billion as of Friday, and streaming-music company Spotify Technology SA SPOT, -6.29%, which has a market cap of less than $40 billion.

https://www.marketwatch.com/story/netflix-predicts-slump-in-subscriber-growth-to-start-2022-stock-plunges-11642713275?mod=mw_latestnews