Netflix (NASDAQ:NFLX) , a global subscription streaming platform with live content and originals, closed at $71.79, down 4.67%. Wells Fargo (NYSE:WFC) downgraded the stock and cut its target, citing weaker engagement and content concerns. Investors are next watching for earnings, second-half content, and margin trends. Trading volume reached 87.2 million shares, coming in about 116% above its three-month average of 40.4 million shares. Netflix IPO'd in 2002 and has grown 59,888% since going public. How the markets moved today The S&P 500 (SNPINDEX:^GSPC) closed at 7,650.50, up 0.17%, while the Nasdaq Composite (NASDAQINDEX:^IXIC) finished at 26,523, up 0.39%.
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