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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.
This content is for educational purposes only. Shares does not provide investment advice. If you are unsure about anything, please seek advice from an authorised financial advisor.
