Netflix shares fell 4.72% to $75.86 on February 12, 2026. The stock reached a new 52-week low near $79 amid rising competition and streaming sector challenges. This decline extends a 23.71% yearly drop. Netflix has lost 12.3% year-to-date, significantly underperforming the S&P 500’s 1.3% gain.
Selling pressure centers on the planned all-cash acquisition of Warner Bros. Discovery. The deal was announced on December 5, 2025, and amended on January 20, 2026. Financing the purchase requires new debt that strains a balance sheet previously carrying $4.4 billion in net debt. Investors are weighing integration risks and increased leverage against potential content gains despite the company’s 29.4% margins.
The movement occurred alongside a 2.03% decline in the Nasdaq. Broader market sentiment was impacted by AI spending concerns and delayed interest rate cuts. Acquisition uncertainty continues to dominate specific trading activity for Netflix.