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Netflix recovers some losses after its worst day in 2 years

Key Points
  • Netflix closed at $399.39 Tuesday.
  • It shed 6.5 percent Monday in its biggest drop since July 2016.
  • Standout tech stocks Square, Twitter and Stitch Fix also recovered Tuesday after notable dips Monday.
Netflix shares recover after worst day in 2 years

Shares of Netflix recovered some losses Tuesday, gaining nearly 4 percent, after the stock suffered its worst day in nearly two years Monday.

Netflix closed at $399.39 Tuesday after falling 6.5 percent Monday — the stock's biggest drop since July 2016.

The shares are up 108 percent in 2018 as of Tuesday's close.

Standout tech names Square, Twitter and Stitch Fix also rose Tuesday after notable dips Monday.

Square, which is up 160 percent in the last 12 months and shed roughly 6 percent Monday, rose a percent Tuesday. Twitter had been up nearly 150 percent in the 12-month period before sinking as much as 5 percent Monday. It rose 1.5 percent Tuesday.

And Stitch Fix, which had gained nearly 60 percent in June, lost 10 percent Monday before gaining 6 percent Tuesday.

The semiconductor sector also gained after plunging Monday. Chipmakers Micron and AMD each rose roughly 2.5 percent. Nvidia gained a percent.

Netflix's strategy is shaking up traditional media companies — here's why
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Key Points
  • Silicon Valley may be virtually synonymous with nerd culture, but there's one field just nerdy enough to claim the titular honor: information technology, of course.
  • Netflix calling its IT professionals nerds fits with the laid back company culture for which Netflix is still known.
  • But with unemployment at historic lows and demand for IT workers soaring, there may be more to Netflix's choice than just fun.