Despite setting new streaming records with the broadcast of two NFL games on Christmas day, Netflix’s stock slipped more than 1% in premarket trade on Friday.
Streaming Records Shattered
According to reports, the Kansas City Chiefs’ victory over the Pittsburgh Steelers averaged 24.1 million viewers, while an average of 24.3 million people watched the Baltimore Ravens defeat the Houston Texans. The majority of the audience for these games came via Netflix, highlighting the platform’s growing influence in live sports broadcasting.
Investors Take Profits Before New Year
As the stock continues to soar, with a year-to-date gain of around 97%, investors may be taking money off the table before the new year. This could potentially impact Netflix’s performance in the coming months, as the company faces increased competition from other streaming services.
Current Market Performance
Netflix was set to open at $924.14 on Friday, having lost 0.9% on Thursday. As of now, the stock is trading at:
NasdaqGS – Delayed Quote
- USD (NFLX)
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- 837.69 (-4.26%)
- At close: January 10 at 4:00:01 PM EST
Bitcoin’s Price Reaches New Heights
Meanwhile, Bitcoin’s price was up 1.4% on Friday, reaching the $96,700 mark. This surge in value comes as confidence returns to the market following a small dip after Christmas day.
Crypto Industry Expectations
Over the last month, the asset has been known for its volatility, touching all-time highs past the $106,000 mark. Markets anticipate US president-elect Donald Trump’s incoming pro-crypto cast of advisers will further boost the industry.
During the election cycle, Trump made several pledges in line with boosting the crypto industry. One such pledge was to build a national bitcoin reserve for the US. He also vowed to sack the crypto critical US Securities and Exchange Commission (SEC) chair Gary Gensler, with Paul Atkins, CEO of Patomak Partners and a former SEC commissioner, lined up to replace him.
Atkins is known as a friend of the crypto industry and will likely be a softer touch on regulation. Read more about how Trump’s tariffs might impact UK and EU trade:
Next (NXT.L) Loses Ground
Retailers such as Next were among the losers in the FTSE on Friday, following data which showed low Boxing Day footfall in the UK.
Critical Financial Distress
Data from Begbies Traynor showed there were 2,124 retailers in ‘critical financial distress’ in the first 11 weeks of the October-December quarter. That figure is a jump of about 25% quarter-on-quarter — up from 1,696 in July-September.
Footfall Decline
Meanwhile, MRI Software data shows there was a 4.9% drop in footfall across all UK retail destinations compared to Boxing Day last year.
Delivery Hero (DHER.DE) Shares Fall
Delivery Hero shares fell as much as 9% in Germany after Taiwan’s Fair Trade Commission blocked the sale of its Foodpanda unit to Uber (UBER). The deal, worth $950m, would have been one of the country’s largest outside of the chip sector. It would have also marked a retreat from Asian markets for the food delivery company.
Uber Can Appeal Decision
Taiwan’s competition regulator barred the deal, and Uber can now appeal the decision or walk away from the deal.
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