Since Tesla CEO Elon Musk began asking his fans to boycott the firm and cancel their memberships, Netflix's shares have fallen about 5% over the last five trading sessions.
Despite a market wide rally, Netflix's stock dropped on Friday, marking their largest weekly decrease since April.According to Yahoo Finance, the streaming behemoth behind tech peers including Amazon (AMZN) and Meta (META), despite major indices rising roughly 2% to record highs.
Musk has criticised Netflix for allegedly including transgender content in children's programming and used his platform on X to urge users to terminate their subscriptions.
In the midst of a dispute this week over an animated series and its creator, Elon Musk advised his followers to terminate their Netflix memberships.
"Cancel Netflix for your children's health," Musk wrote on X. An picture that suggested Netflix was pushing a "transgender woke agenda" prompted his post.
The animated Netflix series Dead End: Paranormal Park, which had a transgender character and was canceled in 2023 after two seasons, is the focus of the controversy.
Musk like a number of anti-trans messages and responded to one that criticized the show's creator, Hamish Steele, for allegedly making remarks that "mocked" the murder of activist Charlie Kirk, according to a well known conservative X account.
Following the sharing of pictures from a Netflix report demonstrating an increase in non white directors and lead actors across its shows, Libs of TikTok made the post.
Later this month, Netflix is getting ready to announce its third-quarter financial results.
Since the corporation no longer releases membership statistics on a quarterly basis, it may be difficult to assess the boycott's immediate impact.
