American Century Investments Focused Dynamic Growth Fund stated in its Q2 2026 investor letter that Netflix shares declined after management's second-quarter outlook fell short of investor expectations. Concerns about rising content budget, moderating growth expectations, and the departure of a key management figure also weighed on the stock. Netflix shares closed at $76.03 on September 9, having fallen 2.82% over the past month and 36.83% over the past 52 weeks.