Ahead of its plans to acquire Warner Bros. Discovery (WBD), Netflix (NFLX) reported fiscal fourth-quarter results. Its revenue increased by 17.6% Y/Y to $12.05 billion.
Netflix is also forecasting its revenue would grow by between 12%-14%, to as high as $51.7 billion. It expects memberships to grow, along with higher prices to boost revenue.
In the athletic wear market, Lululemon (LULU) paused online sales of its new product line. “Get Low” sales are on pause after customers complained that the leggings are see-through whenever bending or squatting. LULU stock closed at $188.76 on Tuesday, down by 6.49%.
The Nasdaq (QQQ) lost 2.39% after enjoying months of nearly uninterrupted rallies. Sentiment abruptly reversed to “risk-off.” Markets used the geopolitical tensions related to the U.S. White House wanting Greenland as a reason to sell technology stocks.
Strategy (MSTR), a Bitcoin (BTC-USD) on leverage, lost 7.76%. The firm borrowed debt and sold preferred shares that pay dividends to pay for BTC. Investors are better off buying Bitcoin ETFs directly.
Shopify (SHOP) fell in sympathy with the index’s decline. The e-commerce platform did not report anything new. Google Gemini AI chatbot will work with retailers like Shopify, Wayfair (W), and Walmart (WMT). That will drive sales for those firms.
Tesla (TSLA) dropped by 4.17% to close at $419.25. $400 is the key support zone. Even as EV sales drop, few bears are betting against this momentum stock. The short float is just 2.04%.
