Netflix finds itself in Wall Street’s hot seat as markets reassess the diminishing growth prospects of so-called “pandemic stocks.”

It was the darling of Wall Street, as millions switched from the office to home, and chucked Netflix on the TV for background noise between zooms.

But now the streaming video service lost some $US40bn in market capitalisation after releasing results Thursday night that projected growth of just 2.5m subscribers in the first quarter.

That’t the slowest rate of expansion in over ten years, and a big change from the 55 million extra subscribers who signed up over recent years.

Netflix shares finished 21.8 per cent lower, a similar level to that experienced Thursday by Peloton, which recovered some of its losses.

And Just Like That

Such sell-offs are a particularly brutal manifestation of a market dynamic that’s been going on for months in stay-at-home equities, whose investment thesis has worsened with the lessening risk of pandemic-caused lockdowns.

Just ask Peloton, which was hit by not just gyms reopening, but a major disaster for its brand played out on the new streamed show, And Just Like That.

In a memo to staff late Thursday, Peloton Chief Executive John Foley said, “rumors that we are halting all production of bikes and treads are false.” But Foley said the company was “resetting our production levels for sustainable growth.”

Legendary singer, Meat Loaf has died aged 74

The American singer was famous for his songs “I’d Do Anything for Love” and “Two Out of Three Ain’t Bad”.

Born Marvin Lee Aday, the Grammy Winner passed away on Thursday night.

The cause of his death has not been disclosed.

A post on his official Facebook page read: “Our hearts are broken to announce that the incomparable Meat Loaf passed away tonight”

His wife Deborah was by his side, and his daughters Pearl and Amanda were with him in the hours leading to his death.

Movie star Alec Baldwin is being sued by the family of a U.S. Marine who was killed in Afghanistan

A widow and two sisters of a U.S. Marine officer killed in Afghanistan are suing Alec Baldwin.

The women are alleging the actor exposed them to a flood of social media hatred by claiming on Instagram that one sister was an “insurrectionist” for attending former President Donald Trump’s Washington, D.C. rally on January 6 of last year.

According to NBC, the sister by the name of Roice McCollum, protested peacefully and legally.

According to the lawsuit filed Monday in U.S. District Court in Cheyenne, she was not among those who stormed the U.S. Capitol that day and after being interviewed by the FBI, “was never detained, arrested, accused of or charged with any crime”

The lawsuit comes as Baldwin is immersed in an ongoing investigation into the death of a cinematographer and the wounding of a director on the set of the movie, Rust.

The finer details:

NBC is reporting that last year, Alec Baldwin sent Roice McCollum a $5,000 payment to help the widow of her brother, Marine Lance Cpl Rylee McCollum.

He was among 13 U.S. soldiers killed in a suicide bombing August 26 at the Kabul airport, according to the lawsuit.

On January 3 of this year, the lawsuit claims that the actor privately messaged Roice McCollum on Instagram soon after she posted an almost year-old photo of the Trump rally. The claim states that Baldwin was asking if she was the same woman who’d taken his donation.

The suit says McCollum confirmed she was at the protest and told Baldwin, “Protesting is perfectly legal.”

The suit says Baldwin responded by remarking that “her activities resulted in the unlawful destruction of government property, the death of a law enforcement officer, an assault on the certification of the presidential election,” and told McCollum that he’d reposted the photo to his 2.4 million Instagram followers.

After Baldwin shared the photo of the January 6 protest on social media. Roice McCollum got “hundreds upon hundreds of hateful messages,” including one telling her to “get raped and die” and that her brother “got what he deserved,” according to the lawsuit.