Netflix’s blockbuster run loses spark amid valuation jitters

Netflix shares fell more than 10% on Wednesday, as the streaming giant’s outlook for the coming quarter left investors nonplussed despite a strong line-up of shows that includes the final season of “Stranger Things”.

Investors have become accustomed to routine outperformance from the company that propelled the stock to a gain of more than 360% over the past three years, far outpacing media bellwethers like Walt Disney and even tech stalwarts Apple and Alphabet.