Netflix takes a $15B hit after Elon Musk publicly called on subscribers to cancel over what he labeled “woke” content.
Netflix shares tumbled 4.3% in just over a day, slashing the streaming giant’s market value from $498B to $482.9B.
The controversy began with allegations that some Netflix shows, particularly those aimed at children, were pushing certain ideological messages. Musk took to X, urging followers: “Cancel Netflix for the health of your kids.”
The call-to-action created a viral wave of cancellations, with users sharing screenshots of them unsubscribing online. The market responded swiftly, marking billions lost in market capitalization in less than 48 hours.
