Shares of Netflix Inc. (NFLX) experienced a slight decrease of 0.19% on Wednesday, closing at $480.33. This decline took place during a generally discouraging trading session for the stock market as a whole. The S&P 500 Index (SPX) fell by 0.56% to 4,739.21, while the Dow Jones Industrial Average (DJIA) dropped by 0.25% to 37,266.67.
This marks the third consecutive day of losses for Netflix Inc.
Closing at $480.33, the stock finished $23.08 lower than its 52-week high of $503.41, which was achieved on January 11th.
Despite these losses, Netflix outperformed some of its competitors on Wednesday. Apple Inc. (AAPL) declined by 0.52% to $182.68, Walt Disney Co. (DIS) experienced a notable drop of 2.91% to $90.34, and Comcast Corp. Cl A (CMCSA) fell by 1.72% to $42.35.
The trading volume reached 4.9 million shares, surpassing the 50-day average volume of 3.8 million shares.
Conclusion
The market downturn had an impact on Netflix’s stock performance, leading to a slight decrease in its value. However, Netflix still fared better than some of its competitors in the same sector. As investors continue to monitor the market, it remains to be seen how Netflix will navigate future challenges and rebound from these recent losses.