Ta-dum… Netflix drops 5% thanks to Love is Blind glitch 🍿
Love is blind viewers left in the dark: the company’s stock dropped 2% on Monday after thousands of Love is Blind viewers were left for hours waiting for the show’s live reunion.
Embarrassing glitch: On Sunday night, Netflix bungled the highly anticipated live Love Is Blind season 4 reunion show. Last month, it had successfully live-streamed Chris Rock: Selective Outrage, but it seems there’s a reason why in 25 years of operating, it's only just decided to try live streams. Will we see a third attempt soon? Investors will be wary.
Mixed Q1 earnings: As if this wasn’t enough, Netflix had reported its Q1 earnings on Tuesday 18th April with mixed results. The streaming giant beat Wall Street estimates, but offered a lighter-than-expected forecast, showcasing the fierce competition from rivals such as Disney Plus and Prime Video.
Google stock drops 4% as Samsung considers a switch to Bing 🔎
The ChatGPT effect: Alphabet’s shares dropped again as news broke that Samsung is considering using Bing (with ChatGPT integration) instead of Google as their default search engine. Ouch.
Samsung’s 27% market share: Samsung makes up over a quarter of the global smartphone market, meaning Google earns a whopping $3 billion in annual revenue from its contract with Samsung. It’s a big contract to lose should Samsung side with Bing.
Apple may follow suit: Samsung is considering a switch thanks to Bing’s integration with ChatGPT. If this results in a better experience for smartphone users, Apple won’t want to miss out. Alphabet’s $20 billion contract with Apple is up for renewal later this year - watch this space.
Manchester United falls 13% as Glazers look to stay ⚽️
Manchester (stock) is red: The Glazers are increasingly confident of securing the outside investment that will enable them to remain as Manchester United owners. Sky News reported that Carlyle, a global investment firm, is one of a “handful” of parties that have pitched investment proposals for a minority stake in the Red Devils.
Double growth: According to a report by ESPN, the potential for organic growth over the next decade could see the club’s value double, making United worth £10bn
Deadline day: So when will the final whistle blow? 28th April is ‘bid deadline’ day. Investors will be sure to keep an eye on what happens.
What have we learned this week? 🤓
Earnings season has kicked off: 4 times a year, companies report their quarterly earnings. Netflix was first to get 2023 underway, and it’s a humbling reminder of how earnings affect share price.
AI is causing a ripple effect: ChatGPT is causing leading smartphone companies to reconsider multi-billion dollar deals. Smart investors will try to keep one step ahead with how AI can move the markets.
Minority stakes can cause major changes: Although Carlyle is only in talks with acquiring a minority stake in Man Utd, this dramatically affects the overall outcome of ownership.
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*Figures correct as of April 19th 2023.
Past performance does not guarantee future results. Capital at risk when investing.
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