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Stocks on the move: Tesla rises on Model S price cut, Netflix stops free 30-day trial

Yahoo Finance's Adam Shapiro breaks down the stocks to watch Wednesday.

Video Transcript

ADAM SHAPIRO: Tesla, the shares we're up 2% in the first 30 minutes of trading, and right now, Tesla shares are actually up about almost 3%. Some of what's going on here has to do with yesterday's news that they're going to cut the price of their high end Model S long range sedan by about 4%. That'll set you back about $72,000. It used to set you back about $75,000. That's in the United States. Don't forget, they already cut the price of the Model 3, the Model S by 3% in China.

One other thing about Tesla, they had the stock split August 31, and the stock closed right after that at about $498 a share. So it's down from that, but there's a lot of optimism that Tesla is going to deliver on the 500,000 cars that Elon Musk is pressuring his employees to deliver this year. And Tesla fans, as you well know, are hard to argue down if you don't believe the company is going to make it.

Then let's talk about Netflix. People haven't been excited about a streaming service or movie company since "The Crows Have Eyes 3 The Crowening." OK, yes, I'm watching "Schitt's Creek" season 3. Netflix shares are up 3%. You can see, I'm not doing an ad for Netflix here, but yes, you can see "Schitt's Creek" on Netflix, but here's the deal. They're going to stop, they've stopped already the free 30 minute trial for Netflix, and they're talking about raising prices in Canada, which a lot of investors think that could be the foretelling of what's about to happen here in the United States as they approach 200 million users, subscribers globally. Shares of Netflix right now are up 1.4%. Remember don't look the crow in the eye.