view the rest of the comments
News
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
Can someone ELI5 why launching a streaming platform out of all things is causing the stock to drop?
Probably because of expected expenditures; creating and hosting a streaming platform isn't cheap, and if you have a company that already seems to be floundering, announcing "we're going to spend a boatload of money we don't have" doesn't instill confidence.
It's probably unrelated. The stock dropped before and after the announcement.
Video hosting is wildly expensive and unprofitable. Even Youtube, by far the most successful video hosting platform on earth, backed by the technical giants at Google, who literally own a "make money on the internet" engine, lost lots and lots of money for a decade.
Its not a good buisness to get into if all you have experience with is a Mastadon fork where you already spend 50mil/yr to make 5 mil/yr.
An old Stock Market adage is "Buy on rumor, sell on news". It's possible that some people were anticipating a larger announcement, and sold when they saw what the announcement actually was.
Or, it just went down because it is a bad stock to own, and it's just a coincidence there was a press release at the same time.