The Fast Money traders discuss Elon Musk urging followers to cancel Netflix over a transgender character, the stock’s 2% decline, and broader implications of Musk’s influence on companies, and more.

California

Netflix shares dropped by over 2% following a public call from Elon Musk for his followers to cancel their subscriptions. Musk's comments were in response to the presence of a transgender character in the animated show 'Dead End: Paranormal Park,' which had already been cancelled in 2023 but remains available on the platform. The show's creator reported receiving anti-Semitic and homophobic comments after Musk's post, leading to a break from social media.

Despite the decline in share price, analysts on CNBC noted that even if a significant number of users in the US and Canada canceled their subscriptions, the overall impact on Netflix's global subscriber base would be minimal. Netflix did not respond to requests for comment regarding the situation.

Netflix shares dropping after Elon Musk tells people to cancel

Welcome back to fast money Netflix shares falling over 2% today after Elon Musk urged his followers on X to cancel their subscriptions Musk taking issue with the presence of a transgender character on one of the streaming platform shows He posted cancelled Netflix for the health of your kids this morning Our Steve Kovac has more on all of this drama Steve. Oh boy Here we go look at the power of an Elon Musk tweet Mel because the targeted rage of that tweet and of his fans and followers they sent Netflix shares down 2% today after mess but spent part of his day tweeting about that Netflix show called dead-end Paranormal Park which features a transgender character. It's an animated show by the way now I think you guys can see where this is going must call it on his followers to cancel Netflix and said he already did So himself, he also criticized Netflix's DEI policies and pointed to it as another reason to cancel the service There's also a lot of Charlie Kirk talk being thrown in there as well Now look dead-end Paranormal Park. It was actually canceled back in 2023 after a 20 episode run of the show in 2022 so about three years old the show is still hosted on Netflix like any other cancelled originally programming Netflix has made now it appears that the X account called libs of tik-tok Discovered the show and posted about it on X which drew Musk's attention and anger now variety Reporting today the creator of the show said he's been receiving anti-semitic and homophobic comments following Musk's post today Variety also reported he had to take a social media break to all the comments and harassment He received from Musk and his fans now Netflix did not respond to a request for comment But here you go again seeing the richest guy in the world Mel Playing around in the culture wars. Yep, Steve. Thank you Steve Kovac a lot to follow along there But you know just doing some of the back of the envelope sort of math in the US and Canada Netflix had 89 million subscribers Let's say half some some of them are Canada. Let's say half 40 million just for argument's sake are Republican. Let's say 10% cancel that seems like a lot You're still talking about only 1% of global subscribers. So, you know Two and a half to four million people. Yeah, and it's sort of a big estimate. Yeah, it's it's just play stock market here Yes, you're right. I think the math is right It's probably a little bit less than that But is that gonna move the needle necessarily and you're gonna see people sign up on the back of that to counter it So I think there's some mitigation again Netflix has not traded well since earnings I think we all can agree on that and maybe for the first time valuation is concerned I will tell you Tom Rogers came on this show right around that earnings period and actually for the first time in Years was somewhat cautious on Netflix, which gave us all pause, but I don't think this is a reason to sell the stock You know, it's interesting I mean his sales got canceled Let's be honest over the last year and a half sales are expected to be down or deliveries of Tesla cars 10% this year Maybe a little worse. It was down in 2024 year year over year and I just find it really curious I mean, here's a guy who's a free speech absolutist. This is meant to be Absolutist, I mean we know what that word means. So it's just this is the sort of hand-to-hand combat We just don't need in the stock market. I mean, I know that's just it just seems kind of silly at this point I don't know I'm not gonna defend anybody here and I take no position on this whatsoever But you can be free speech and still say you should not listen to this for the health of your children But let it exist out there, right? So you're still allowing it to he's not saying Netflix take it down He's just saying people don't let your kids listen to that. So I think that's that's how you know He's also saying cancel your subscription cancel your subscription. Yeah Yeah He's not telling Netflix to take it down To play stock market, which is all I want to do here You know we've had these moments in time where whether it was an ad campaign that went wrong or whether it was Some sense that a company was aligned in a particular political channel and we've seen it from some of the biggest companies in world It's not just Budweiser. It's Nike. It's you name it I don't think that that's going to be the reason to sell Netflix here And we've all said here this stock is very expensive Yes, can a day with these headlines move the stock around they will I won't you know I won't speculate beyond that all those all those examples though that you gave the boycotts and the protests lasted much longer Than anybody I think expected in terms of an impact Wiser was what was has been one of the great buys over the last six months when when you work through some of that Yeah, that's true. But the destruction there was far greater than any other one that I recall And if you yeah, so I feel like this will be very fleeting You

Blame was thrown around by all sides on the first day of the shutdown after the White House and Congress failed to agree on a way to keep the U.S. government funded and open. The White House said layoffs to the federal workforce were ‘imminent.’

Washington

White House says federal worker layoffs ‘imminent’ after shutdown

Jane Goodall, the British conservationist and researcher renowned for her work with chimpanzees, has died at age 91. The Jane Goodall Institute confirmed her death on Instagram Wednesday, saying she died of natural causes.

Los Angeles

Jane Goodall, chimpanzee researcher and conservationist, dies at 91

U.S. President Donald Trump has signed an executive order, promising military action if necessary, to defend Qatar in the face of any future attack. It follows an Israeli strike on Doha last month, targeting a Hamas negotiating team. Qatar called the attack a violation of its sovereignty, prompting Trump to issue the new security assurances to the Gulf nation.

Doha

Trump signs executive order protecting Qatar after Israeli strike

The Israeli military is pressing on with its offensive in Gaza, launching strikes across the territory, as Hamas weighs up its response to the U.S. peace proposal. Debora Patta reports.

Jerusalem

Middle East Conflict

Israel continues Gaza offensive as Hamas weighs U.S. peace deal

The Supreme Court has added another blockbuster case to its new term of cases. The court announced it would hear whether President Trump can legally fire Federal Reserve Governor Lisa Cook. Jessica Levinson has more.

Supreme Court to weigh Trump firing of Fed's Lisa Cook

Flash floods in Ukraine's Odesa killed at least nine people, including a family of five trapped in their home as it was engulfed by water, emergency services said on Wednesday (October 1), as torrential rain left hundreds in need of rescue and thousands without power.

Odesa Oblast

Deadly flash floods hit Odesa after downpours in Ukraine's south

Parts of the U.S. government remain closed after Senate votes failed to pass funding. A GOP-backed House bill fell short of the 60-vote threshold, leaving 750,000 federal workers facing furloughs and possible military pay delays.

Government shutdown continues after Senate votes down resolutions

In Afghanistan, concerns are growing after days of virtually no internet connectivity. The blackout has disrupted banking, commerce and aviation. The Taliban denies banning internet services.

Kabul

Afghanistan imposes internet blackout

U.S. President Donald Trump said on Tuesday that Hamas militants have about three or four days to respond to his Gaza peace plan proposal or face the consequences. But Gazans saw little hope in the plan, which was presented to Hamas after Israel had endorsed it as satisfying its war aims.

Hamas under pressure as Trump issues deadline on Gaza peace plan

U.S. President Donald Trump threatened to use 'dangerous' U.S. cities as training grounds for the military at a rare meeting of top military officials where he and U.S. Defense Secretary Pete Hegseth took aim at what they called 'woke' military standards.

Trump threatens to train military in U.S. cities

At least 69 people were killed after a 6.9-magnitude earthquake shook the coastal city of Bogo and outlying rural towns in Cebu province in the Philippines, officials said. CBS News foreign correspondent Anna Coren has the latest details.

Cebu

Dozens killed after 6.9-magnitude earthquake shakes Philippines

U.S. President Donald Trump and lawmakers failed to reach a funding deal, causing the government to shut down Wednesday. Tens of thousands of federal workers will be told to stay home – furloughed without pay.

U.S. government shuts down after lawmakers fail to reach funding deal

U.S. President Donald Trump is amping up pressure on Hamas to respond to his 20-point peace plan to end the war in Gaza. He says he wants a response in a matter of days or there will be a ‘very sad end’ to the conflict.

Trump puts pressure on Hamas with deadline on Gaza peace plan

U.S. Defence Secretary Pete Hegseth said there would be no more ‘overbearing rules of engagement’ for the U.S. military while President Donald Trump threatened war on ‘the enemy from within’ at a gathering of top U.S. military commanders.

Hegseth calls for end to ‘politically correct’ U.S. military leadership

European leaders, from Ursula von der Leyen to Emmanuel Macron, have reacted positively to U.S. President Donald Trump's plan to end the war in Gaza.

EU leaders urge Hamas to accept Trump's Gaza plan 'without delay'

Military leaders have been summoned to Quantico Marine Corps base from all around the world by Defense Secretary Hegseth for a rare, in-person meeting. Democratic lawmakers have raised safety concerns about the military leaders leaving their posts for the well-publicized meeting.

Quantico

Hegseth gathers U.S. military leaders for rare, in-person meeting

Imelda is now a Category 1 hurricane, threatening dangerous weather conditions on the East Coast alongside Hurricane Humberto. CBS News' Rob Marciano has more details.

Folly Beach

Imelda becomes hurricane, threatens dangerous conditions on East Coast

Venezuelan President Nicolas Maduro said Monday he is ready to declare a state of emergency over the threat of U.S. "aggression," following a spate of deadly U.S. strikes on suspected Venezuelan drug boats.

Caracas

Maduro ready to declare state of emergency over U.S. 'aggression'

Some have expressed excitement after Bad Bunny was announced as the Super Bowl halftime performer, while others have criticized the pick. CBS News' Lilia Luciano reports.

Bad Bunny to headline Super Bowl 2026 halftime show

President Donald Trump said he would impose a 100% tariff on all films produced overseas that are then sent into the U.S., repeating a threat made in May that would upend Hollywood's global business model.

Hollywood

Global Tariffs

Trump says U.S. to impose 100% tariff on movies produced overseas

Moldova's pro-Europe governing party has won a majority in key parliamentary elections. The result brings Moldova closer to EU membership — but not everyone is celebrating.

Chișinău

Pro-EU party wins majority in Moldova election

U.S. President Donald Trump outlined a 20-point plan for peace in Gaza as he stood with Israeli Prime Minister Benjamin Netanyahu at the White House. Hamas has yet to comment on the plan.

Trump, Netanyahu announce plan to end Gaza conflict

Amid growing impatience over the Kremlin’s reluctance to participate in direct talks with Ukraine, Washington is now considering providing Kyiv with Tomahawk missiles, according to U.S. Vice President JD Vance.

Ukraine Invasion

Washington might send Tomahawk missiles to Ukraine, Vance says

The FBI says it is investigating 'an act of targeted violence' after a man crashed his vehicle through the front doors of a Michigan church, opened fire with an assault rifle and set the church ablaze, killing at least four people and wounding at least eight others.

Grand Blanc

Investigators look for motive in deadly Michigan church shooting

Washington is preparing for the arrival of Israeli PM Benjamin Netanyahu, who is set to meet with President Donald Trump at the White House on Monday. President Trump is advancing a plan aimed at securing the release of hostages, ending the war in Gaza, and outlining a post-war strategy.

Netanyahu set to meet Trump at the White House

The military wing of Hamas said it had lost contact with two Israeli hostages held in Gaza City, and called on Israel to pull troops back and suspend air strikes for 24 hours so fighters could retrieve the captives.

Tel Aviv-Yafo

Hamas says it lost contact with two hostages in Gaza City siege

Iran's parliament on Sunday (September 28) condemned what it called "illegal" sanctions, after the United Nations reimposed restrictions over the country's nuclear program at the weekend.

Tehran

Iran parliament slams reimposed UN sanctions as 'illegal'

Ukraine’s President Volodymyr Zelenskyy slammed Russia for the new wave of attacks, which killed at least four in Kyiv, including a child, and accused them of deliberately targeting civilian positions to incite fear and terror. At least 70 others were injured.

Kyiv

At least four killed as Russia launches major offensive on Kyiv

At least 36 people were killed and more than 50 injured on Saturday (September 27) in a stampede at a rally held by Tamil actor Vijay, who is campaigning for election, the chief minister of Tamil Nadu said.

Tamil Nadu

Dozens killed in political rally stampede in India

Hezbollah has commemorated one year since the death of its leader, Hassan Nasrallah, who was killed by Israel during their conflict. At a gathering in Beirut, the group's secretary-general Naim Qassem reaffirmed Hezbollah's refusal to disarm, despite ongoing Israeli attacks and a ceasefire agreement.

Breakdown