Shares of Netflix (NFLX) are down 2% on Oct. 1 after Elon Musk supported a boycott of the streaming service.
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The Tesla (TSLA) CEO echoed calls for a boycott of Netflix on social media, writing “Same” on X in response to a post where a user said they had canceled their Netflix subscription. Later, Musk wrote a separate post where he called on parents to “cancel Netflix for the health of your kids.”
Conservatives in the U.S. are calling for a nationwide boycott of Netflix after Hamish Steele, who created the now-canceled animated Netflix show “Dead End: Paranormal Park,” criticized British Prime Minister Keir Starmer for condemning the assassination of right-wing political activist Charlie Kirk.
Conservative Backlash
Even before the show’s creator made comments about the Charlie Kirk killing, “Dead End: Paranormal Park” had drawn criticism from some conservatives over its pro-transgender themes and messages. Netflix has not responded to calls for a boycott of its streaming platform or Musk’s social media posts.
However, Netflix isn’t the first company to face a conservative backlash. In 2023, Bud Light sales collapsed after its owner Anheuser-Busch (BUD) launched a promotion featuring transgender influencer Dylan Mulvaney. That same year, discount retailer Target (TGT) faced a conservative boycott after it released merchandise celebrating gay pride.
Is NFLX Stock a Buy?
The stock of Netflix has a consensus Moderate Buy rating among 36 Wall Street analysts. That rating is based on 25 Buy, 10 Hold, and one Sell recommendations issued in the last three months. The average NFLX price target of $1,400.83 implies 19.71% upside from current levels.
