Wall Street’s former darling Netflix on the ropes, loss of subscribers brings stock down by 70%

Netflix, once a darling of Wall Street, is suddenly on the ropes, media reports said. The streaming giant will report its second-quarter earnings on Tuesday, and it's shaping up to be one of the most consequential moments in the 25-year history of the company, CNN reported. In April, the company reported that it had lost subscribers in the first quarter of 2022, the first time that had happened in any quarter for more than a decade.