Netflix stock heads for longest losing streak since 2019, which could wipe out $19 billion in market cap


Netflix Inc. shares NFLX, -0.84% were down 1.4% in Monday morning trading and on track to log their eight-straight session of declines. The stock has fallen 13.8% over the current eight-session stretch. If Netflix shares end in the red Monday, they will have logged their longest losing streak sine July 23, 2019, when they declined for nine sessions in a row, according to Dow Jones Market Data. The current eight-session fall has erased $19 billion in Netflix market value based on preliminary values, also according to Dow Jones Market Data. The 1.4% decline for Netflix’s stock in Monday morning action comes as rival Walt Disney Co.’s stock DIS, +0.85% is down 0.2%. Disney is due to report earnings Tuesday afternoon.

This article was originally published by Read the original article here.

Previous articleDow Jones Newswires: Bayer backs outlook after forecast beating sales of €11.28 billion
Next articleCrypto: Bitcoin, Ether fall sharply on as token linked to FTX takes a sharp tumble


Please enter your comment!
Please enter your name here