Netflix (NFLX) is trading at $88.04 (+3.03%), showing strength despite negative company-specific news and a broader market downturn fueled by inflation data and geopolitical tensions. The stock is rebounding from yesterday's 2.33% loss.
- Texas Lawsuit: On May 12, Texas Attorney General Ken Paxton filed a lawsuit against Netflix, alleging the company illegally collected and sold consumer data, including that of children, without proper consent.
- Market Headwinds: The stock is outperforming the S&P 500 (-0.63%) and Nasdaq (-1.02%) which are down following a hotter-than-expected CPI report and ongoing Middle East tensions.
- Technical Levels: Key technical support is identified at $81.80 with resistance at $90.74.