Netflix Inc. (NFLX, -2.22%) witnessed a 2.22% drop to $481.24 on Tuesday, in what turned out to be a disappointing trading day for the stock market. The broader market also saw a decline, with the S&P 500 Index (SPX, -0.37%) falling 0.37% to 4,765.98 and the Dow Jones Industrial Average (DJIA, -0.62%) dropping 0.62% to 37,361.12.
Consecutive Days of Losses
This marks Netflix’s second consecutive day of losses, causing concern among investors.
Narrow Gap from 52-Week High
Closing at $22.17 below its 52-week high ($503.41), which was achieved on January 11th, Netflix Inc. has come uncomfortably close to losing its peak value.
Underperformance Compared to Competitors
On Tuesday, Netflix performed below some of its major competitors. Apple Inc. (AAPL, -1.23%) experienced a 1.23% drop to $183.63, while Walt Disney Co. (DIS, +2.99%) surged by 2.99% to reach $93.05. Comcast Corp. Cl A (CMCSA, +0.23%) also saw a slight increase of 0.23% and closed at $43.09.
Increased Trading Volume
The trading volume for Netflix reached 4.7 million shares, surpassing its 50-day average volume of 3.8 million shares.
