Why Netflix Stock Lost 17% in June
Reports that Netflix was still looking for an acquisition seemed to worry investors.
Overview
Shares of Netflix (NASDAQ: NFLX) were drifting lower last month, continuing a broader pullback this year.
While there was no major news out on the leading streamer, skepticism about its business strategy at a time when its core markets are maturing seemed to push the stock lower.
Details
Semafor reported that the company had bid on Roku, which agreed to be acquired by Fox, and that it was interested in buying Lionsgate, following Warner Bros. Discovery's decision to sell itself to Paramount Skydance instead of Netflix.
Source
Originally published at www.fool.com.
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