NetflixThe stock of’s has lost all pandemic gains.

The streaming service’s share price fell by more than 2 percent to $332 per share on Monday. This is a 52-week high. This is more than half the drop from its 52-week peak of $700.99 in November.

Shares last sold at $332 per piece on March 20, 2020 as pandemic lockdowns were in effect.

Netflix recorded significant increases in 2021 and 2020 as people were still restricted at home. Consumers are now gravitating towards out-of home entertainment, such as movie theaters, restaurants, and theme parks, even though the mandates have been lifted.

Also, the company faces a number of challenges. increased competition from other companiesSimilar to AppleAnd DisneyThey are attracting viewers away from Netflix content.

Netflix shares plummeted in January after it forecasted just 2.5 million new net subscribers for next quarter. The 8.3 million additions it received in the fourth quarter was slightly lower than its forecast of 8.5 millions.

Netflix was forced to exist by increasing production costs and pressure from competitors. raise prices in North America earlier this year. Its basic plan cost $1 more than $9.99 per month, while the price of the standard plan shot up from $13.99 and $15.49 respectively. The premium plan was $17.99 and $19.99 respectively.

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