Netflix (NASDAQ: NFLX) saw its shares fall 2.95% on Wednesday after market rumors linked the streaming giant to a potential Lionsgate acquisition.
Stock Movement and Company Statements
Netflix confirmed it has no interest in purchasing Lionsgate and stated there is no ongoing plan to negotiate a deal. The spokesperson added that the company never filed an indication of interest, a filing that typically signals the start of serious negotiations. Investors responded quickly, driving the stock price down while the broader market observed the clarification.
Lionsgate's Rally and Valuation
Lionsgate (NYSE: LGF.A) surged