It’s not just the “Magnificent Seven” stocks feeling the impact of recent sell-off action.
Highfliers like Netflix (NFLX), AMD (AMD), Micron (MU), Dell (DELL), and Palantir (PLTR), among others, have also been washed out in the midst of this latest market rout.
Netflix stock has declined over 10% from a month ago, and some on Wall Street are warning that its recent volatility signals a more sinister picture of the current stock market.
“When NFLX goes down over 9% in one day, that tells me we are starting to see some panic,” Mizuho analyst Jordan Klein wrote in a note to clients on Friday.
Klein added that although some analysts have recently called out Netflix’s heavy content spend and possible engagement headwinds, the company still has “zero tariff risk, pricing power and almost feels recession-proof.”
Therefore, a significant one-day drop in the stock “tells you that folks just want to reduce all exposure to equities right now,” he said.
Other non-Mag 7 players have underscored this sentiment since a month ago. AMD and Micron are down around 13% and 6%, respectively. Shares of Palantir, a previous momentum play on Wall Street, have plunged 30%. And Dell stock has tumbled roughly 20% over the same time period.