why is netflix stock down

Netflix stock is down mainly due to a combination of factors including a social media backlash and retail investor negativity sparked by controversial remarks from a Netflix TV show creator regarding the assassination of activist Charlie Kirk. This controversy has fueled calls for subscription cancellations, amplified by billionaire Elon Musk urging his millions of followers on social media to cancel Netflix for the "health of your kids," citing concerns over the promotion of transgender content in a Netflix animated show. This negative sentiment among investors was worsened by the broader market impact of the U.S. government shutdown occurring around the same time. Additionally, Netflix's stock dropped about 2.3% after an analyst downgrade by Goldman Sachs, which lowered the price target slightly, though other analysts continue to rate Netflix as a "moderate buy" with an average price target above current levels. Overall, the stock price fall reflects a mix of social backlash triggered by content and public posts, analyst sentiment adjustments, and a cautious retail investor mood due to external economic factors. Despite the drop, Netflix shares are still up about 34.5% year-to-date and the company is expected to report strong earnings growth in its upcoming earnings release.