Gloomy Netflix forecast erases much of stock's pandemic gains

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LOS ANGELES (Jan 21): Netflix Inc dashed hopes for a quick rebound after forecasting weak first-quarter subscriber growth on Thursday (Jan 20), sending its shares sinking nearly 20% and wiping away most of its remaining Covid-19 pandemic-fuelled gains from 2020.The world's largest streaming service projected it would add 2.5 million customers from January through March, less than half of the 5.9 million analysts had forecast, according to Refinitiv IBES data.Netflix tempered its growth expectations, citing the late arrival of anticipated