Netflix Under Pressure Over Tax Dispute

4 days ago

Nor Melinda

"Netflix can't skip that one. Ticker NX. We're seeing shares down the worst performing stock in the S&P 500 here. Down as much as 10% in trading. And this is the worst day since December 2022. This of course after the company said that a tax dispute with Brazil cut into its third quarter earnings. You're seeing a lot of people really digging into the details here. But that is definitely creating a drag here on the stock as you're seeing Wall Street really just trying to dissect what's going on here."

The commentary focuses on Netflix (NX) experiencing its worst trading day since December 2022, driven by a tax dispute with Brazil impacting third quarter earnings. The negative sentiment is highlighted by a 10% drop in shares and intense scrutiny from Wall Street.

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