Netflix downgraded as ‘worrying’ engagement trends emerge

Market Catalysts Hosts reports the latest news on Netflix (NFLX) after Wells Fargo (WFC) downgraded the stock to Underperform, citing "worrying" engagement trends. Video Transcript 00:00 Speaker A Well, let's uh bring you a stock mover that we are watching right now that is down sharply and that is Netflix. 00:08 Speaker A The stock getting downgraded to underperform over at Wells Fargo here. 00:13 Speaker A Um, the analyst over there is Stephen Cahill and uh basically he says engagement trends look worrying to us. 00:22 Speaker A He says Netflix viewership was 1.6 hours per subscriber per day in the first half. 00:27 Speaker A um and he said that is down about 8% versus the first half of 2023 after you make some adjustments.