Are Netflix shares falling because of Elon Musk’s "Cancel Netflix” tweet? Read to know more

Is Elon Musk to blame for Netflix's share dip?

Netflix just found itself in the eye of another storm — one it might not have expected.

Elon Musk, never one to shy away from controversy, has urged people to “cancel Netflix,” painting it not just as a personal decision but as a moral one, especially for parents.

It all began when the animated series Dead End: Paranormal Park, which includes a teenage transgender character, drew criticism from conservative corners.

Elon Musk didn’t hold back. He cancelled his own Netflix subscription and told his millions of followers on X to do the same.

Quotes like “Cancel Netflix for the health of your kids” began floating around, gathering momentum as users shared their own reasons for leaving the platform.

With that, as per India Today, Netflix shares started slipping — about 2‑3% at first, then deeper drops over the next day or two. Before long, the company’s market value had fallen by around $15 billion. For Netflix stock, it was its steepest decline since April.

Also Read: Elon Musk says "Cancel Netflix" — Here’s what sparked the backlash

A lot of the backlash zeroed in on Dead End’s creator, Hamish Steele. The spark was a resurfaced post where Steele reportedly called activist Charlie Kirk, who had recently been killed, a “nazi” on another social platform.

Critics said Steele was mocking Kirk’s death; Bose of the outrage came from people who felt kids were being exposed to messages they didn’t sign up for. For many, this issue hit deep, mixing questions of free speech, the protection of children, and identity politics.

Through it all, Netflix has stayed mostly quiet. No strong statements, no big press conferences yet — just the fallout.

It’s still not clear how many subscribers have truly quit because of this, but the tremors are there.

Subscriber trust, public perception, and corporate values all seem to be on the line. In short, the ripple effect is real — and Netflix is seeing it in its stock ticker.