By Income-Tax UK
What Happened: Analysis of Google search data reveals that online searches for ‘buy Netflix stock’ exploded 931% worldwide on 19th April, following online streaming platform Netflix NFLX reporting a huge loss of subscribers in its first quarter – the first report of a subscriber decline in ten years.
The company reported losing 200,000 paid subscribers in its first quarter of trading on Tuesday evening, causing shareholder confidence in the online platform to dip and its share prices to drop by 25%. However, it seems that this has not shaken the confidence of some investors, with many looking to seize this opportunity and get their hands on Netflix shares, as searches for ‘buy Netflix stock’ increased by 931%.
A spokesperson for Income-Tax.co.uk commented on the findings: “While shareholder confidence has dwindled for many in light of Netflix’s drop in subscribers, it appears there has also been a surge in the number of people looking to capitalize on this dip, while share prices are low. It seems that many investors have confidence in the streaming giant to further build upon the success that they have seen during the pandemic.”