Netflix (NASDAQ: NFLX) saw its stock price climb 2.8% on Wednesday to close at $224 per share. Netflix made some news Wednesday related to its upcoming launch of its ad-supported tier. The Wall Street Journal reported Wednesday afternoon, citing a document that Netflix shared with its ad buyers, that it plans to reach 40 million viewers globally with its ad-supported tier by the third quarter of 2023. Read More...
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Why Shares in Alcoa Crashed Today
Shares in bauxite, alumina, and aluminum producer Alcoa (NYSE: AA) were down around 10% by midday Wednesday. The move comes after its steel manufacturing peer, Nucor (NYSE: NUE), announced disappointing guidance for its third quarter. Steel and aluminum are replaceable with each other and operate in very similar end markets, so Nucor’s warning is a salutary reminder that Alcoa also faces difficulties in 2022.
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