TLDR
- Netflix stock fell 2.3% on Wednesday and another 0.8% on Thursday after Elon Musk urged his 226 million X followers to cancel their subscriptions
- Musk’s criticism focused on the animated series “Dead End: Paranormal Park” and claims about Netflix promoting transgender content to children
- The Tesla CEO posted multiple times calling for Netflix cancellations, writing “Cancel Netflix for the health of your kids”
- Netflix shares had been up 27% since May 12 before the recent decline
- Previous conservative boycotts have hurt major companies, including Bud Light in 2023 and Target during Pride month
Netflix shares dropped 2.3% on Wednesday and continued sliding another 0.8% to $1,162 on Thursday. The decline came after Tesla CEO Elon Musk launched a series of posts on X calling for people to cancel their streaming subscriptions.
The controversy started Tuesday when Musk responded to a post from a user who said they had canceled their Netflix subscription. “Same,” Musk wrote to his 226 million followers.
Musk’s criticism centered on the animated series “Dead End: Paranormal Park.” The show has drawn attention from conservative voices online in recent days.
Conservatives shared screenshots appearing to show Hamish Steele, the show’s creator, criticizing U.K. Prime Minister Keir Starmer. The posts referenced Starmer’s condemnation of an assassination of right-wing political activist Charlie Kirk.
Barron’s could not verify the screenshots because Steele’s X account is private. Netflix did not respond to requests for comment.
“Cancel Netflix for the health of your kids,” Musk wrote in a follow-up post. He claimed the show was “pushing trans ideology” to children.
Musk also responded to another post that pointed out the series is advertised for viewers as young as seven years old. “This is not ok,” he wrote.
Multiple Posts Target Streaming Platform
The Tesla CEO made several posts about Netflix throughout Wednesday. He responded to a post from @Libs of TikTok that claimed Netflix “appears to openly boasts about discriminating against White people.”
“Cancel Netflix,” Musk wrote in response. The post referenced a Netflix inclusion diversity report from 2023.
Cancel Netflix for the health of your kids https://t.co/uPcGiURaCp
— Elon Musk (@elonmusk) October 1, 2025
That report showed 71.4% of Netflix series featured an underrepresented lead or co-lead. The industry average was 58.1%.
Musk amplified several posts claiming a growing trend of Netflix cancellations. His posts reached his massive following on the X platform.
Stock Performance Context
Before this week’s decline, Netflix stock had performed well. Shares were up 27% since May 12, when Barron’s named it as a stock pick.
The publication cited Netflix’s ability to beat the broader market during times of economic uncertainty. Futures tracking the S&P 500 were 0.2% higher on Thursday morning.
Previous Conservative Boycotts
This is not the first time a major company has faced financial consequences from conservative backlash. In 2023, Bud Light sales dropped after owner Anheuser-Busch launched a promotion with transgender influencer Dylan Mulvaney.
Target also experienced stock troubles that same year. Shares tumbled about 17% over nine days after the retailer released merchandise celebrating Pride month.
Whether Musk’s boycott calls will lead to actual subscriber losses remains to be seen. The streaming service has faced criticism from conservative voices over content choices in recent years.
Netflix generally maintains it offers programming for diverse audiences. The company has not made any public statement about the current controversy.
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