/Netflix%20open%20on%20tablet%20by%20rswebsols%20via%20Pixabay.jpg)
Netflix (NFLX) came in ahead of estimates in the second quarter as its ad-supported tier continued to gain traction. However, shares of the entertainment giant closed down some 5% on Friday.
Investors are bailing on NFLX shares even though the streaming giant raised its full-year guidance as well mostly because of valuation concerns.