Shares of Netflix (NASDAQ: NFLX) are far off from their 2021 highs with the stock currently hovering near its 52-week low of $162.71, and has cratered 68.8% year-to-date. The stock of the streaming giant closed at $186.51 on Monday, May 16. It seems like investors have not been reassured from the company’s recent steps to shore up subscriber losses. This includes Netflix’s plans to crack down on password-sharing households and exploring an ad-supported subscription plan. A recent Deadline report stated that the company is also getting ready to launch live streaming of events. Wedbush analyst Michael Pachter put forth his views on Netflix’s recent moves to address subscriber losses.
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