Shares NetflixThe streamer’s earnings report Tuesday night, which showed that it had lost its subscribers for the most recent quarter, led to a 30% plunge Wednesday morning. Wall Street was concerned about the long-term potential for growth and downgraded the results.

Netflix stated that there were “host of headwinds” that could affect growth. These include competition and lessening pandemic restrictions. Coronavirus orders that allow you to stay at home and access digital entertainment had significantly helped the company. As mandates were relaxed and vaccines became available, people spent less time using digital platforms.

The weaker forecast was also due to slower household broadband growth. Netflix estimated 100 million householdsSharing their passwords to subscriptions with friends and family can make it difficult for them to increase memberships. 

It made plans to make changes that would help with growth. It’s considering a lower-priced ad-supported tierAnd suggested a crackdown on password sharing is coming. Analysts were generally optimistic about the changes but they believe that it will be a while before these changes are actually implemented. 

Bank of America analysts stated in Wednesday’s note that while their plan to accelerate growth by limiting password sharing, and an advertising model has merit, they will not have a noticeable effect until “24”, which is a long period to wait for what is currently a “show me story”. This firm was among at least nine that were included in the list. downgrade NetflixThe disappointing report. 

“After what can only be called a shocking 1Q subscriber miss and weak subscriber & financial guidance we reduced our subscriber forecasts and pushed back our profitability forecasts substantially,” Pivotal analyst Jeffrey Wlodarczak wrote in a Tuesday note. According to the firm, the stock was downgraded from buy to sell.

The Wells Fargo analysts noted in Wednesday’s note that they had downgraded the stock by equal weight. They stated, “Negative sub growth and investments in reaccelerate sales are the final nail in the NFLX narrative coffin.”

As investors waited for news on the growth of streaming services, several stocks fell along with Netflix. The shares of DisneyAfter Wednesday’s opening of the markets, shares were about 4% lower. Similar to the shares of RokuThese numbers were around 2.8% below their peak. ParamountStocks fell 8% Warner BrosThe decline was about 5%

Wolfe Research released a Tuesday report saying that gross adds activity continued to be lower than expected. Subscription companies might feel similar pressures through this earnings season. But, Wolfe Research pointed out that NFLX was unique because it’s much more pervasive, especially when you consider password sharing. This firm retained its rating of outperform.

—CNBC’s Michael Bloom contributed to this report.