Netflix shares fall into correction territory
BUZ INVESTORS Netflix shares fall Netflix Inc.’s stock (NFLX), -4.22% dipped into correction territory in early morning trade on Monday before paring some losses, as it led the FANG stocks — Facebook Inc. FB, -1.48% Amazon.com Inc. AMZN, -1.46% Netflix and Alphabet Inc. (Google)GOOGL, -1.58% — in their second straight session of declines. Netflix shares fell as much as 6% on Monday from Friday’s close. The stock hit an intraday low of $148.31, down 10.6% from the June 8 record high of $165.88. The stock has bounced slightly since then, to be down 2.9% at $153.38, or 7.5% below the record close. Many on Wall Street define a correction as a decline of at least 10% to up to 20% on a closing basis from a significant peak.
Netflix shares fall
Netflix (NFLX) -4.3%) signs a multi-year deal with Altice (OTCPK:ATCEY) covering 10 markets.
While the content deal includes France, Portugal, Israel and the Dominican Republic, the U.S is not covered. That’s not a complete surprise with Altice USA believed to be mulling over an IPO.
|Industry:||Entertainment » Media – Diversified NAICS: 512131 SIC: 7832|
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|Traded in other countries:||NFLX.Austria, NFLX34.Brazil, NFC.Germany, NFLX.Mexico, NFLX.Switzerland, 0QYI.UK,|
Netflix Inc operates as an internet television network providing TV shows and movies which include original series, documentaries and feature films.
Netflix’s primary business is a streaming video on demand service now available in almost every country worldwide except China. Netflix delivers original and third-party digital video content to PCs, Internet-connected TVs, and consumer electronic devices, including tablets, video game consoles, Apple TV, Roku, and Chromecast. In 2011, Netflix introduced DVD-only plans and separated the combined streaming and DVD plans, making it necessary for subscribers who want both to have separate plans.
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