Netflix Stock Drops Over 3%, Snapping Rebound Momentum
Tiger Newspress04-24
Netflix stock dropped more than 3% in morning trading, snapping rebound momentum.
Netflix shares fell 9% on Friday as its plan to stop sharing subscriber numbers from 2025 stoked growth worries, with analysts warning that rivals may follow the step by scrapping the key metric on the streaming industry's health.
Subscriber additions have long been watched by investors and Wall Street analysts to evaluate how companies, including Netflix, Walt Disney Co and Warner Bros Discovery are faring in the streaming wars.
The shares rebounded 4% on Tuesday.
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