In a gloomy trading session on Thursday, Netflix Inc. (NASDAQ:) saw its shares drop 1.29% to close at $361.20, marking a three-day losing streak for the streaming giant. This closing price is significantly lower than its 52-week high of $485.00, which the company achieved on July 19, 2023.
The broader market downturn was reflected in the closing figures of leading indices. The closed at 4,349.61, while the Jones ended the day at 33,631.14.
Despite the overall market slump, Apple Inc. (NASDAQ:) managed to buck the trend with its stock rising by 0.51% to close at $180.71. Other media and entertainment companies like Walt Disney Co. (NYSE:NYSE:) and Comcast Corp (NASDAQ:) experienced lesser drops compared to Netflix, ending the day at $84.35 and $43.90 respectively.
One notable aspect of Thursday’s trading session was Netflix’s trading volume which stood out at 7.3 million, exceeding its average volume. This indicates that there was a higher level of trading activity around Netflix shares during this period of market downturn.
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