The headwinds are beginning to outnumber the tailwinds in the markets.
Starting on Monday, comedy fans will once again queue up outside New York’s Ed Sullivan Theater and Rockefeller center to see the funny men of late night television perform. Since May 2, Stephen Colbert, Jimmy Fallon and Seth Meyers have been forced off air by the Hollywood writers strike, which ended this week. Describing the rewards for Netflix’s top managers as “egregious”, the Writers Guild of America in May urged the streaming service’s shareholders to vote against executive pay at the company’s annual meeting.
If you invested $10,000 in Netflix and held on to your position over the last 20 years, your holdings would now be worth over $1,585,000. When Netflix (NASDAQ: NFLX) went public in 2002, few could have imagined how massively influential and successful it would go on to become. The former rental leader famously turned down a chance to buy out Netflix for $50 million.