For 2022, Netflix shares dropped 50.6 percent, the most the stock has declined on an annual basis since 2011. For the first time, the once-invincible company lost subscribers for two consecutive quarters, ushering in a period of painful belt-tightening that has included several hundred layoffs. Netflix’s decline outpaced the Nasdaq, which was down 33.1 percent for the year. The left-wing streamer, which continues to have a production deal with Barack and Michelle Obama, is being forced to try new ways to juice revenue. Netflix broke its promise to never have commercials by launching an ad-supported tier in a bid to...
