Netflix Faces Backlash: An Exploration Into Its Controversial $900,000 AI Job Offer Amid A Surprising 12% Stock Plummet
Portfolio Pulse from Zaheer Anwari
Netflix has faced criticism for offering a machine learning product manager role with a salary range of $300,000 to $900,000 per year, amid strikes by the Screen Actors Guild of America and the Writers Guild of America demanding higher wages. This controversy coincides with a 12% drop in Netflix's stock value since its peak on July 19th. Despite this, the stock has a year-to-date gain of 41% and there are signs that the downward trend might be slowing down.
July 27, 2023 | 3:38 pm
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Netflix's stock has dropped 12% since its peak on July 19th, amid criticism over a high-paying job offer and strikes demanding higher wages. However, the stock still has a year-to-date gain of 41% and there are signs that the downward trend might be slowing down.
The controversy over the high-paying job offer and the strikes demanding higher wages have likely contributed to the drop in Netflix's stock value. However, the stock still has a year-to-date gain of 41%, indicating that it has been performing well overall this year. The signs that the downward trend might be slowing down suggest that the stock could potentially recover.
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