Netflix (NFLX) Stock Plunges 10% as Ark Invest’s Cathie Wood Doubles Down
Key Takeaways
- NFLX shares plummeted nearly 10% following disappointing Q2 revenue guidance
- Annual revenue projection of $51.2B fell short of analyst consensus at $51.38B
- Co-founder Reed Hastings confirmed he will step down from the board in June
- Morgan Stanley maintains Overweight stance with $115 price target on the stock
- Ark Invest’s Cathie Wood purchased additional NFLX shares during Friday’s decline
Shares of Netflix $NFLX plunged nearly 10% on Friday following the streaming giant’s second-quarter guidance that fell short of analyst expectations.
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