US EditionNetflix Stock Drops Again—Now Down 2.4% Since Musk’s Call For Cancellations
Elon Musk's cancellation triggered a 2% Netflix stock drop and a subscriber boycott, raising fresh debate on subscription pricing amid rising content costs.
- On Tuesday, September 30, Elon Musk, Tesla CEO, cancelled his Netflix subscription, causing the stock to fall more than 2% the following day.
- Amplifying a Libs of TikTok post, Elon Musk, Tesla CEO, urged his 227 million followers on X to `Cancel Netflix for the health of your kids`, fueling the #CancelNetflix backlash soon.
- At 2:15 p.m. EDT the stock was trading at $1,161 after initial losses, having fallen another 2.4% yesterday and dipping 0.52% in pre-market.
- The company reported 16% year-over-year revenue growth to $11 billion and net profit of $3.1 billion, while Musk's boycott has made only a small dent this year.
- Momentum continued on October 2 with Musk's followers posting cancellation screenshots, while investors warn public cost debates may accelerate churn amid Disney+ and Amazon Prime Video competition.
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Netflix Loses More Than $15B in 1 Week
Streaming giant Netflix saw its shares drop 2.4% this week, or the equivalent of more than $15 billion in only a few days, following the call for a boycott of the company from Tesla CEO Elon Musk, Forbes reported on Thursday. Musk, billionaire and former White House adviser, urged his 227 million followers on X to cancel their Netflix subscriptions "for the health of your kids" and slammed a cartoon he claimed promoted a pro-transgender agenda t…
Elon Musk felt that the presence of a character in a Netflix children's program was "not normal."
Netflix shares fall 1% in pre-market as Elon Musk echoes boycott calls; market cap drops $17 billion in 3 days
Netflix's stock fell 0.8% to $1,162 in pre-market trading, marking a two-month low, amid a broader market rally. The decline follows Elon Musk's call for a boycott over content concerns, although historical data suggests minimal long-term impact from cancel campaigns on Netflix's subscriber base.
Tesla's owner, among other companies, Elon Musk, joined the campaign launched by the conservative account Libs of TikTok against Netflix for its diversity policies and urged streaming service users to cancel their subscription. The target of the campaign is the series "Dead End: Paranormal Park", whose creator, Hamish Steele, was accused of making allegedly disrespectful comments about Charlie Kirk, an ultraconservative activist and close to Don…
Elon Musk Declares War on Netflix: Stock Collapses as Millions Cancel Subscriptions, Democrats Humiliated in Trump Meme War. – Real People Real News
Introduction In a world where Elon Musk challenges the status quo and shakes up industries, we find ourselves at the intersection of innovation and entertainment. The recent declaration of war on Netflix by Musk has sent shockwaves through the stock market, leading to millions canceling their subscriptions. As the dust settles, Democrats are left red-faced in a meme war initiated by none other than the notorious Trump. Join us as we delve into t…
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