Welcome back to Fast Money. Netflix shares falling over 2% today after Elon Musk urged his followers on X to cancel their subscriptions. Musk taking issue with the presence of a transgender character on one of the streaming platform shows.He posted, "Cancel Netflix for the health of your kids this morning. Our Steve Kovak has more on on all of this drama." Steve. Oh boy. Here we go.Look at the power of an Elon Musk tweet, Mel, because the targeted rage of that tweet and the of his fans and followers, they s ...

Core Viewpoint - Elon Musk's tweet urging followers to cancel Netflix subscriptions due to a transgender character in the show "Dead End Paranormal Park" has led to a 2% drop in Netflix shares, highlighting the influence of social media on stock performance [1][2][3]. Group 1: Impact of Musk's Tweet - Musk's call to action resulted in a significant reaction from his followers, causing Netflix shares to decline by over 2% [1][2]. - The show "Dead End Paranormal Park," which features a transgender character, was canceled in 2023 after a 20-episode run, yet remains available on Netflix [3][4]. - Following Musk's comments, the creator of the show reported receiving anti-Semitic and homophobic harassment, prompting a social media break [4][5]. Group 2: Subscriber Analysis - Netflix has approximately 89 million subscribers in the US and Canada, with an estimated 40 million potentially identifying as Republican [5][6]. - If 10% of these subscribers were to cancel, it would represent about 2.5 to 4 million subscribers, which is only around 1% of Netflix's global subscriber base [6][7]. Group 3: Market Reactions and Valuation - Despite the potential impact of Musk's tweet, analysts suggest that the overall effect on Netflix's stock may be limited, as the company has not performed well since its earnings report [7][8]. - Concerns about Netflix's valuation have been raised, with some analysts expressing caution regarding the stock for the first time in years [8][9]. - Historical examples of boycotts and protests against companies indicate that while headlines can temporarily affect stock prices, the long-term impact may vary [12][13].