In a gloomy trading session on Thursday, Netflix Inc. (NASDAQ:NFLX) 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 S&P 500 closed at 4,349.61, while the Dow Jones ended the day at 33,631.14.
Despite the overall market slump, Apple Inc. (NASDAQ:AAPL) 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:DIS) and Comcast Corp (NASDAQ:CMCSA) 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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