After Netflix announced disappointing subscriber numbers, its stock dropped 21.79% to 397.50 today. As a result, other streaming competitors have also had losses, including The Walt Disney Company.
The change comes as a result of shaken confidence in the streaming industry after Netflix failed to reach subscriber growth benchmarks. Investors are nervous, even though Disney has yet to release its subscriber and revenue data from the most recent quarter.
The Walt Disney Company has so far dropped 10.24% today to 137.38.
Disney’s quarterly earnings will be released on February 9.