Netflix Stock Lost 17% in June Amid Acquisition Reports and Board Change

Price ActionCorporate Action

โดย The Motley Fool·Read original

Summary · why it matters

Netflix shares fell 17% in June, extending a decline of more than 40% from a year ago. Co-founder and longtime CEO Reed Hastings stepped down from the board at the beginning of the month, a move announced in April but which left him with no official role. Media outlet Semafor reported that Netflix had bid on Roku before Roku agreed to be acquired by Fox, and that it was interested in buying Lionsgate after Warner Bros. Discovery chose to sell itself to Paramount Skydance instead of Netflix; Netflix denied making a formal bid for Roku or pursuing Lionsgate. The reports weighed on the stock by signaling the company is searching for growth as subscriber gains slow in core markets like North America. Additional pressure came from Meta Platforms' plans to expand Instagram TV and a research note indicating Netflix is on track for its weakest global net subscriber additions since 2022 in the second quarter.

Netflix Inc ▼