Why did Netflix move?
Written after the close on
Netflix fell slightly as caution builds before its mid-October earnings. Over the last five trading days Netflix fell clearly, while the S&P 500 was roughly unchanged and the Communication Services sector — the group of telecom, media and entertainment companies it belongs to — also fell clearly, so the stock lagged both. The weakness likely reflects nerves ahead of the mid-October earnings report and lingering doubt after Netflix walked away from a deal for Warner Bros. Discovery assets earlier this year, which left the shares without momentum. Watch the mid-October results, since that is the next scheduled event that could reset the tone.
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History in plain words, not investment advice.