₦airaland Forum

Netflix’s market value has taken a massive hit, reportedly slipping from about $514 billion on September 27 to $489 billion by October 3, a decline of nearly $25 billion. Reportedly, almost $7 billion vanished right after Elon Musk’s October 1 post urging followers to drop their subscriptions. According to Yahoo Finance, Netflix shares fell dramatically on Friday, marking their biggest weekly decline since April 4.

Over the past five trading days, the stock dropped nearly 5% as Tesla CEO Elon Musk continued urging his 227 million followers on X to cancel Netflix subscriptions. Musk criticised the streamer for allegedly promoting transgender messaging in kids’ shows.

Netflix shares drop as Elon Musk urges boycott

While the Nasdaq and overall markets climbed about 2% to record highs over the week, Netflix has lagged behind Big Tech peers like Amazon (AMZN) and Meta (META). On Thursday as well, Netflix shares opened lower, falling 1.2% before trimming losses to end 0.8% down, reaching $1,161 at 2:15 p.m. EDT, Forbes reported. The stock has dropped about 2.4% since Musk tweeted on Tuesday that he had cancelled his Netflix subscription. Over the past five trading days, Netflix shares have fallen 4.4%, even as the tech-heavy Nasdaq marks its fifth consecutive day of gains.

$15 BILLION in Netflix shares were liquidated after one tweet by Elon Musk. “Cancel Netflix.” He urged canceling the streaming subscription for the sake of children’s health, labelling it LGBT propaganda.

Some reports estimate that Netflix has lost over $15 billion in market value since Musk’s calls began. While conservative sources peg the number at around $25 billion. But regardless of the exact total, analysts agree the timing between Musk’s boycott call and the stock dip is hard to ignore.

Elon Musk’s campaign against Netflix
Musk has repeatedly called for a boycott. On Tuesday, he wrote: “Cancel Netflix for the health of your kids.” The Billionaire CEO also reposted messages accusing Netflix of pushing a “transgender woke agenda.” These boycott comes amid the controversies surrounding the cancelled Netflix animated series, Dead End: Paranormal Park, directed by Hamish Steele. Conservative critics claimed the show promoted progressive ideas they disagreed with.

Musk’s post was in response to another user who said they were leaving Netflix after Steele criticised conservative activist Charlie Kirk in an apparent tweet. In it, Hamish reportedly criticised UK Prime Minister Keir Starmer’s tweet mourning Charlie Kirk, calling Kirk a “random nazi,” according to the right-wing account Libs of TikTok. Dead End: Paranormal Park was cancelled in 2023 by the streamer.

Responding to the backlash, Hamish, speaking on Bluesky said: “I have mostly been very ok today and found it all quite funny, while really appreciating everyone who has reached out, but the extremely nasty weird [homophobic] and antisemitic emails have started rolling in and it is getting a little scary so I apologise if I take longer to respond to stuff.”

Netflix earnings outlook

Netflix is set to report its third-quarter earnings on October 21. In its last earnings report, Netflix beat Wall Street expectations, with third-quarter revenue projected at $11.53 billion and EPS of $6.87. The company raised its full-year revenue outlook to $44.8–$45.2 billion. Executives said ad sales are on pace to double to roughly $3 billion next year.

LoyalKwaraMan:
Elon musk should stop saying things that will affect others.

Mrchippychappy:
Many of those so called conservatives dem dey stack up on Netflix stocks now. This is just a simple move to short the market, na market manipulation, even Elon Musk go buy when the stock go lower and ride it back to the top.

ednut1:
Elon musk is basically doing market manipulation. Needs to be dealt with

chipet67:
For you Nigerians, everything na about stock... Not even that you understand what you're saying sef. If we ask you to analyse stock market now, you go begin talk climate change.

chipet67:
For you Nigerians, everything na about stock... Not even that you understand what you're saying sef. If we ask you to analyse stock market now, you go begin talk climate change.

Dreamhans1:
So Netflix can continue producing Gabriel carton

FarahAideed:
Waiting for Elon musk to tweet about the killing of Christians in Nigeria

Omoawoke:
A careless billionaire with no IQ

What a man child…

The other time they were cancelling Tesla, he knew how it hurts.

If you think Elon musk really cares about you and humanity, you must be joking… the only thing the “richest world people” care about is money! And every action they take has to do with money as the final outcome

That’s the way the world is, money rules this world and that’s why Devilish people do everything to get it

BlackViper:
https://www.financialexpress.com/business/netflix-loses-25-bn-in-value-following-elon-musks-call-to-cancel-streamer-over-woke-agenda-3998971/#google_vignette

Omoawoke:
Seems you don’t understand how the stock market works.


B You think he really cares about you or morality?

When will you poor people learn the tricks of the elites… the elites don’t like you and don’t care about you, stop being used

Omoawoke:
A careless billionaire with no IQ

What a man child…

The other time they were cancelling Tesla, he knew how it hurts.

If you think Elon musk really cares about you and humanity, you must be joking… the only thing the “richest world people” care about is money! And every action they take has to do with money as the final outcome

That’s the way the world is, money rules this world and that’s why Devilish people do everything to get it

meobizy:
Billion dollar companies lose money in billions. It’s the same way you broke people lose thousands of Naira and win the same via betting.

LoyalKwaraMan:
Elon musk should stop saying things that will affect others.

Omoawoke:
Seems you don’t understand how the stock market works.


You think he really cares about you or morality?

When will you poor people learn the tricks of the elites… the elites don’t like you and don’t care about you, stop being used

Dreamhans1:
When you poor fake woke wanna be pretend to not see this moral rape and psychology intimidation by Netflix. Cartoons should be cartoon and should remain innocent.
Now if I ask you if you own a Netflix share, the answer is definitely no
Or any significant share in Google, Apple or Nvidia, the answer is no.
Dopemu just wants to come online and pretend for his family.

Difrent:
Then Trump follow with a post on truth social slamming sanctions on Nigeria because as falsely claimed Muslims are killing christians and the government is not doing anything about it
And end it with Thank you for your attention to this matter

Crazy dude

Omoawoke:
A careless billionaire with no IQ

What a man child…

The other time they were cancelling Tesla, he knew how it hurts.

If you think Elon musk really cares about you and humanity, you must be joking… the only thing the “richest world people” care about is money! And every action they take has to do with money as the final outcome

That’s the way the world is, money rules this world and that’s why Devilish people do everything to get it