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I'm less surprised that Netflix is losing subscribers than I am that it took this long for it to happen. They've bumped their price by over 50% since 2015. That took it from "no brainer" territory (at $10/month) to "is it as good as HBO?" territory at the current $15.49. And now you have others filling in on the no brainer side like AppleTV, which is only $5/month. It's just hard to justify keeping Netflix.
Now, does that reasonably suggest that a 40% correction is in order? No. But it seems like investing is becoming a game of overreactions anymore, so I'm not surprised that it's happening.
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