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.
00:36
Speaker A
um and they also said 20% of the hours come from the top 100 titles and we think this is where much of the zeitgeist lives and member value is driven.
00:48
Speaker A
So uh the downgrade coming to underweight here, um and the stock down about four and a half percent.
