Netflix shares extend the slide to the third day, dropping 3% to 2 weeks low. Here's why

Netflix faced a further round of sales pressure in the trade session of Wednesday, with the share falling for the third day, 3% to achieve a 2 -week low of $ 1,163.21, after billionaire Elon Musk echoed for a boycott of the streaming service. An old post by Hamish Steele, the creator of the Animated Series Dead End: Paranormal Park, criticized British Prime Minister Keir Starmer for condemning the murder of right -wing political activist Charlie Kirk. Mint could not verify the screenshots, because Steele’s X account is private. “Cancel Netflix for the health of your children,” Musk said in a follow-up post that criticized the pro-transgender message from Dead End: Paranormal Park. A general negative sentiment among market participants, as the US has entered into a government’s inclusion, probably also contributes to the stock movement. The United States entered into its first government in seven years and the third under President Donald Trump, after the Senate rejected the home’s financing bill. Stock is under pressure The stock has recently been under pressure after Donald Trump imposed 100% rates on non-American films, which raises concerns that it would lead to a leap in making costs for content producers. However, it was not immediately clear what legal authority Trump would use to draw up a 100% tariff on foreign -produced films. The president first flew the idea of ​​a film tariff in May, but offered few details, which did not make sure the drivers of the entertainment did not make sure whether it would apply to specific countries or all imports. The US film industry recorded a $ 15.3 billion trade surplus in 2023, with an export of $ 22.6 billion to international markets, Reuters reports, citing the Motion Picture Association. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or brokerage companies, and not of currency. We advise investors to check with certified experts before making investment decisions.