Elon Musk’s nickname for the cancellation of Netflix’s subscription triggers the destruction of the $ 25 billion market

The streaming giant Netflix has reportedly lost more than $ 25 billion in market value since billionaire businessman Elon Musk openly asked users to cancel their subscription.

The call triggered a counterattack and investor concerns. Musk’s comments, which emerged after the release of the controversial Netflix series that displayed transgender characters described by technology entrepreneurs as “propaganda wake up,” became viral on social media and triggered a trendy boycott hashtag.

The streaming giant market value reportedly plummeted, down around $ 25 billion from around $ 514 billion on September 27 to $ 489 billion on October 3.

“Cancel Netflix for the mental health of your children, ” Elon Musk wrote on his X page.

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Following Post 1 October 1 which encouraged followers to cancel their membership, Netflix’s shares fell more than 8% in a matter of days, destroy tens of billions in the assessment. More than $ 7 billion is believed to have disappeared.

Netflix shares suffered the biggest weekly loss since April 4 on Friday, October 3, according to Yahoo Finance.

Julia Raymond’s streaming industry expert noted that Netflix’s challenge exceeded the influence of Musk.

“This controversy strengthens the existing concerns about the direction of content and price fatigue. Musk comments only accelerate broader sentiment,” he said.

Apart from DIP, Netflix maintains more than 260 million global customers and emphasizing that the list of future releases will encourage new involvement. The company has not officially responded to Musk’s statement but people say the executive “strictly monitors sentiment trends.”