NASDAQ:NFLX 29 November 2025 - 5 December 2025

Netflix shares fell about 2% to $101 Friday after announcing a $72 billion cash-and-stock deal to acquire Warner Bros Discovery’s studios and streaming business. The move triggered elevated trading volume and renewed regulatory scrutiny, with the combined group facing antitrust concerns in the US and Europe. Netflix completed a 10-for-1 stock split in November.

Netflix agreed on Dec. 5 to acquire Warner Bros. Discovery’s studios and streaming business for $72 billion, its largest deal to date. Netflix shares closed at $103.22 on Dec. 4, down 0.71%, hitting a seven-month low as investors weighed antitrust risk, insider selling by Reed Hastings, and the company’s $437 billion market cap. Trading volume surged to 51.3 million shares. The deal values Warner Bros. Discovery at a 121% premium.

Netflix shares fell nearly 6% to around $103–104 in afternoon trading December 3, following a $40.7 million share sale by co-founder Reed Hastings and renewed focus on the company’s bid for Warner Bros. Discovery. Hastings reduced his direct holdings by almost 99%, though he retains a large indirect stake. The stock remains up over 20% in the past year despite today’s drop.