Why Netflix Stock Dropped Today

Netflix stock fell 4.67% after Wells Fargo analyst Steven Cahall downgraded the company to underweight, predicting a potential 20% price decline to $57. Cahall cited concerns about a lack of hit original series, estimating views for Netflix's top 100 shows could drop over 20%. He warned that engagement trends are worrying and that boosting viewership through increased content spending, sports rights, or acquisitions would pressure profit margins.