Netflix Flexes 'M&A Muscle' As Bidding Contests Spook Wall Street

Netflix shares fell 3.47% after losing a bidding contest for Roku to Fox Corp's $22 billion offer. The streaming giant's M&A activity, including failed pursuits of Roku and Warner Bros. Discovery, has drawn scrutiny from Wall Street. Netflix's stock remains in a longer-term downtrend, trading significantly below key moving averages, with weak technical momentum and down 35.43% over the past 12 months.