This streaming service finally raised some of the cash they needed very recently.
Their stock has been taking a beating. because the money cost them alot more than their investors expected – just as predicted.
The service grabbed all the cash they could, for now.
They had to borrow at junk bond rates, for the first time. Problem is, the cash was only about enough to fund about 6-8 months of their projected cash burn this year.
The cost of borrowing even more money would be quite prohibitive.
So what happens to their stock price the next time they need cash, and where do they get it from?