Why Netflix Stock Got Rocked Today
An entertainment company signed a deal to acquire Roku. That company wasn't Netflix.
Why Netflix Stock Got Rocked Today
Overview
A pricey acquisition agreed to by two peers in the entertainment industry has left Netflix (NASDAQ: NFLX) in the cold, and Mr. Market punished the company for it on Tuesday. That, plus a media report stating that the video streaming giant tried but failed to buy the target company in that deal, pushed its stock down by nearly 4%.
That acquisition was announced before market open Monday. Legacy media and entertainment company Fox Corporation is buying video streaming company Roku in a cash-and-stock deal valued at $22 billion.
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Originally published at www.fool.com.
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