Tesla CEO Elon Musk attacked Netflix on Twitter on Friday after the company reported a drop in subscribers.
Netflix shares fell 14% in after-hours trading on Monday after the streaming giant reported it had lost 126,000 domestic subscribers in the second quarter, which ended June 30. It was the first time since 2011 that Netflix reported a loss in US subscribers during a quarter.
“I’m quite certain we are the largest Netflix customer,” Musk said, adding: “Netflix has been very focused on high production values, and they’ve got some great shows.”
The company blamed the loss on a recent price hike for subscriptions, but Tesla CEO Elon Musk had a different theory about Netflix’s subscriber loss.