Netflix Expected a ‘KPop’ Rally. Elon Musk and Tariffs Got In the Way
Netflix shares had surged in the first half of 2023 due to strong earnings and expansion plans. However, the rally has since stalled due to two unexpected factors: 1. Elon Musk's acquisition of Twitter and the potential impact on Netflix's content viewership and subscriber base. 2. Ongoing trade tensions between the U.S. and China, which have resulted in new tariffs that could affect Netflix's ability to produce and distribute content. These external factors have caused investors to re-evaluate Netflix's valuation, which had been driven higher by the company's successful execution of its growth strategy. The article highlights the unpredictable nature of the market and the need for Netflix to navigate these challenges to maintain its momentum.
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