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

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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 Marketwatch.com. Read the original article here.

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