Netflix Stock Dips Again in Second Day of Freefall

·1-min read

Netflix stock failed to rebound Thursday from a beatdown that came on the heels of news that it is hemorrhaging subscribers worldwide – a second day of staggering losses after 37% of the streaming giant’s share value was wiped out Wednesday.

Netflix stock dropped to $215.50 per share in early Thursday trading, a more than 5% loss on the day. The stock has cratered 60% overall since its January highs.

The filing says Twitter has not responded, and that Musk is exploring “whether to commence a tender offer to acquire all of the outstanding shares of Common Stock … at a price of $54.20 per share.” Any shareholder could choose to take the offer; if a majority (plus Musk’s outstanding shares) agrees, he could take control — albeit with Twitter’s recently enacted “poison pill” conditions in place.

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