Plenty of people probably shorted them, but it's not likely a Gamestop....or maybe it is. I always thought Gamestop was a crappy overprice game-scam store that was doomed to die. Yet, apparently it had a nostalgic place in some people's hearts. The fuckery was more about how people went about the shorting, rather than betting on it to fail.

Netflix, by the fundamentals, is doomed for a big struggle. They will likely live on, no matter what, but they will surely hurt stock holders for years to come. This 30% drop came exactly after the Q1 2022 stock holder info release, which was the 4th quarter in a row of abysmal subscriber growth, and showed huge loss in subscribers. Not only that, they had just threw away even more subscribers by following the Russia racism crowd. They've racked up huge debt, borrowing to produce their own content. Some of it has been really popular, but much of it was hair-brained woke crap. $9.4 billion in debt.

Their current strategy isn't maintainable and although it has the largest subscriber count and is raking in revenue, it's all being pissed away. It is not making money. They keep raising their prices even year or two and just slammed Europe with another round of price hikes. They just announced plans to put ads in some content that you pay for already and also crack down on account sharing. With the huge competition, every content produce is spinning up their own streaming service. That means they are charging big time to share with others. So what we see, is above the huge prices already, a lot of content is licensed to other content producers, like the child grooming cut throat mouse, so they have to have a second tier of walled garden, where you need to pay even more to be a premium user to access, or additionally subscribe a subset. It's starting to turn in to cable, just with extra steps.

I think the dumpster fire has been burning a long time, but Covid made it briefly seem like it might possibly being doing okay, to some, until reality hit with the data release.