Netflix collapses by 35% and California's pension fund sees $700M lost


California's Pension Fund Saw $700M Go Up In Smoke following Earnings-Triggered Sell-Off In Netflix

What Happened:

The California Public Employees' Retirement System lost about $695 million of its Netflix bets following Wednesday's massive Netflix collapse.

The largest state pension fund in the U.S., with $450 billion in assets under management, held 1,779,811 Netflix shares, valued at about $1.07 billion, at the end of the fourth quarter of 2021, 13F filing with the SEC showed.

Why did Netflix crash?

Netflix's stock crashed due to its weaker-than-expected first-quarter earnings that showed it losing subscribers for the first time since its infancy and a forecast for a loss of 2 million in the current quarter.

I saw the news yesterday. I wonder if they will recuperate anytime soon. Somehow I doubt it.

Netflix is still falling. Game over!

mlawson71 wrote: Sun Apr 24, 2022 1:57 am I saw the news yesterday. I wonder if they will recuperate anytime soon. Somehow I doubt it.

whatever happens i ain't going back 2 dis shit.....

They are consistently upping prices its not sustainable and its becoming less and less value for money especially with Disney and Amazon coming into the market too. They need a rethink and quick lol

I don't understand the reasoning behind the price hikes, that would just drive more clients away.