Shares of Netflix were on pace for the stock’s worst day in nearly two years Monday, as some of the year’s best-performing tech stocks tumbled.
Netflix fell as much as 7 percent — its biggest drop since July 2016 — to a session low of $381.50. The stock closed Friday above $411 after gaining nearly 5 percent for the week.
The stock is up roughly 100 percent in 2018.
Standout tech stocks Square, Twitter and Stitch Fix also fell Thursday.
Square, which had been up more than 170 percent in the last 12 months as of Friday’s close, shed roughly 6 percent Monday. Twitter had been up nearly 150 percent in the 12-month period before sinking as much as 5 percent Monday.
And Stitch Fix, which had gained nearly 60 percent in June, lost roughly 10 percent.
The semiconductor sector also plunged — in tandem with the overall market. Chipmaker Micron shed nearly 7 percent. AMD dropped nearly 6 percent. And Nvidia fell roughly 5 percent.
Source: Tech CNBC
Netflix is on pace for its worst day in 2 years