NFLX - Here's Why Netflix Stock Fell 12.9% in September 2023
2023-10-05 16:03:13 ET
Shares of Netflix (NASDAQ: NFLX) fell 12.9% last month, according to data from S&P Global Market Intelligence . Investors in the leading streaming video service had their nerves rattled by comments a company executive made at a media industry conference.
Speaking at the Bank of America Media, Communications, and Entertainment conference on Sept. 13, Netflix CFO Spencer Neumann attempted to address several pain points. Some of his answers left investors less than satisfied, and his reluctance to give detailed responses to other queries didn't exactly boost Wall Street's confidence, either.
This presentation took place near the closing bell on Wednesday, Sept. 13. By Thursday's market close, Netflix's stock had fallen by a total of 7.9% in two days. After that, the stock's decline continued at a slower pace through the rest of the month, largely undisturbed by any news of game-changing importance.
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Here's Why Netflix Stock Fell 12.9% in September 2023