Netflix is facing what can only be described as a nightmare scenario as customers continue to abandon the far-left streaming entertainment giant in droves, threatening the company’s financial stability.
Shares of Netflix plummeted more than 20 percent in after-hours trading Tuesday after the streamer reported catastrophic results for the first quarter.
So far this year, Netflix shares are down a staggering 55 percent.
Netflix, which still has a production deal with Barack and Michelle Obama, said it lost 200,000 subscribers for the first quarter of the year — a huge miss for the company, which had expected to add 2.5 million subscribers.
Even more troublesome, leaders are forecasting Netflix will lose a whopping 2 million more subscribers this spring — potentially the largest quarterly loss of customers in its history.
[…]
