Why Netflix stock is down today?

The decline of Netflix (NFLX) stock today can be attributed to the following factors:

1. Army Base Plan: Netflix's plan to renovate an old army base in New Jersey has caused concern among investors. The company's expansion into a former military facility might have raised questions about its strategic direction and the potential risks associated with such a significant investment.
2. High Valuation: Netflix's stock is currently expensive, with a valuation of around 45 times expected earnings for the next year. This high valuation could indicate that the market is expecting rapid growth from Netflix, which might be difficult to achieve. As a result, investors might be cautious about the stock's future performance.
3. Recent Performance: Netflix's stock has already doubled over the past 12 months, which could lead to a correction. Investors might be taking profits or reducing their exposure to the stock due to its recent gains.

In conclusion, Netflix's stock decline today is likely a result of a combination of factors, including its plan to renovate an old army base, high valuation, and recent performance.