Netflix stock faces a punishing day as Reed Hastings departs. Don’t blame his exit on WBD, bosses say

Shares of Netflix Inc. (Nasdaq: NFLX) are getting battered this morning, one day after the company reported its Q1 2026 financial results—the first since the streaming giant abandoned its plans to acquire Warner Bros. Discovery (WBD) in February. In addition to its quarterly earnings, Netflix also announced a bombshell: its cofounder and current chairman, Reed Hastings, will be exiting the company this June. The departure of Hastings, who has been the de facto face of the company since it...