Elon Musk caused Netflix shares to crash: what happened?
Фото: Reuters
Billionaire Elon Musk has shaken up the financial market again. The owner of the X platform urged users to unsubscribe from Netflix because of the cartoon Dead End: Paranormal Park, which features a transgender character. After his post, the streaming giant’s shares fell by 4%, representing a loss of about $20 billion in market value.
Musk reposted a cartoon of the Trojan Horse with Greek warriors captioned as “gender and LGBT ideology” and added: “Unsubscribe from Netflix for the health of your children.”
His words immediately became the subject of heated debate in the United States.
The critically acclaimed animated series was canceled in 2023, but it remains a subject of controversy. Show creator Hamish Steele responded to the show on Bluesky by writing, “It looks like it’s going to be a very strange day,” and shared a comment from fellow writer Jack Bernhardt, who called Dead End “a wonderful show with kind and genuine characters.”
Netflix has not yet commented on Musk’s statements. Analysts believe that the decline in shares does not threaten the company in the long term: over the past year, they have grown by more than 60%, and the user base exceeds 300 million subscribers.
Recall that the streaming service Netflix published a teaser for the final season of the series “Stranger Things” . The finale of which was divided into three parts.