Netflix Shares Extend Eight-Day Slump as Amazon Competition Mounts

On June 4, Netflix shares remain under pressure following an eight-day losing streak, the longest since November 2022, with the stock down 24% since the April earnings call. The selloff intensified after the company maintained full-year guidance despite beating Q1 estimates, triggering a nearly 10% drop in the subsequent session. Investors are increasingly concerned about Amazon Prime Video’s bundling, sports content, and ad-tech advantages pressuring Netflix’s growth and pricing power, though analysts maintain a bullish stance with an average price target implying over 40% upside.