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Netflix CEO Reed Hastings is pictured on May 3, 2018 in Lille, northern France during the first edition of the TV Series Mania festival.

Now after an unexpected loss of subscribers and increased competition in the streaming war, shares of Netflix erased all of its 46% gain for the year at its peak and officially entered negative territory on Monday.

A slew of announcements from media companies launching their own streaming services — Apple , Disney , AT&T ‘s WarnerMedia, NBC — came as a last straw for the struggling stock.

Nomura Instinet analyst Mark Kelly told CNBC that increased competition could “take away engagement,” “make content more expensive,” “or diminish the price power Netflix has exhibited for several years.”