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Low churn keeps the subscriber line intact, but softening US viewing is the leading indicator for ad pricing and future price hikes.
Netflix has an unusual problem: People won’t cancel, but they’re watching less. The company claims the industry’s lowest cancellation rate, but US engagement is sagging. Read more: https://t.co/49aeKV0Slk https://t.co/6HlyvkyQO4
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Three years ago, $10,000 split between the two biggest names in the attention economy would look very different today: Spotify turned it into $37,750, Netflix into $16,481. That $21,000 gap is the cost of picking the wrong streaming winner.
Netflix just set a new 52-week low at $65.04, 3.01% under the October 2 bottom it reached less than three weeks ago. The $270.8 billion streaming leader is making new lows within weeks of its last one.
Nearly 16 points separated the best and worst close across a 390-name watchlist, with Super Micro Computer up 9.56% to $35.58 and AT&T down 6.08% to $22. AI infrastructure and crypto-linked names took the top spots; communications and consumer took the hits.
Super Micro Computer opened up 13.4%, the biggest move across a 387-name priority list, with Dell, Vertiv and Bloom Energy also clearing 5%. Netflix and AT&T anchor the other end, each off roughly 4.8%.
- 1TSLAbullish491 comments · 1.2K upvotes
- 2BRUNbearish76 comments · 889 upvotes
- 3NFLXbearish224 comments · 573 upvotes
- 4AMZNbullish32 comments · 280 upvotes
- 5SPYbullish111 comments · 104 upvotes
SPYheating up fast
Tesla is running away with the board at 491 comments and the mood stays bullish, while traders are souring on Netflix into tech earnings season. The broad-market S&P 500 ETF is heating up fast, a sign retail is leaning into the whole tape.
Source: RedditFour straight quarters of decelerating sales is no longer a blip, and the premium multiple on the streaming leader assumes the opposite.
NEWS: $NFLX is set to open 5% lower after sales growth fell for a fourth-straight quarter as it struggles to retain viewership amid intense content competition from rivals
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Operating income jumped 37% to $4.46 billion, driving the EPS beat even with revenue landing fractionally short of estimates. Management cut its 2026 advertising revenue outlook to about $2.7 billion from roughly $3 billion, blaming a slower rollout of ad products.
GoPro's 10.3% jump leads the open, with Moderna close behind and the entire downside capped under 3.5%. Across the priority names, the gains are doing all the work this morning.
NFLX Coverage
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