major stock losses at netflix and tesla drove the techheavy nasdaq down nearly 300 points on thursday the index’s worst day in five months as a pair of earnings reports raise doubts about their valuations even as the dow jones industrial average continues to climb the nasdaq’s drop of nearly 295 points on thursday marked a 21 singleday drop its biggest percentage decline since february 21 when it fell 25 shares of netflix fell 8 on thursday closing the day at 43742 after the streaming service reported worsethanexpected secondquarter revenue even as it racked up nearly 6 million subscribers thanks in part to its crackdown on password sharing netflix’s second quarter revenue of 82 billion narrowly missed analysts’ projections of 83 billion—the company also projected 85 billion in revenue over the third quarter again below analysts’ projections of 87 billion tesla’s stock slid nearly 10 on the day to 26290 after an earnings report prompted analysts to doubt the automaker’s 840 billion valuation with roth analyst craig irwin telling yahoo finance the automaker’s monthslong rise in shares prices made for an “egregiously overvalued” stock despite its quarterly earnings beating consensus forecasts with 249 billion in sales over the second quarter tesla’s drop in stock marked the company’s worst performance since april 20 19 billion that’s how much billionaire tesla owner elon musk lost on thursday as a result of tesla’s dip on wall street though musk still holds the title of world’s richest person with a net worth of 2377 billion according to forbes’ realtime list of richest people netflix’s drop comes after the streaming giant cut its cheapest adfree plan for new customers in the us and uk as it looks to push new customers toward more expensive adfree plans or cheaper adbased options a move the company had for years sworn off the change which does not affect existing customers eliminates netflix’s 999 per month “basic” adfree plan meaning new customers choose between a 699 plan with ads or a 1549 or 1999 plan without them tesla stock takes 9 postearnings dive—here’s why some say its 840 billion valuation is ‘disconnected from reality’ forbes