Netflix continues to sink after its junk bond announcement

Shares of Netflix sank more than 4% Tuesday, their second decline in two days after the company announced an offering of $1.5 billion in junk bonds.
The new debt will be used for “general corporate purposes,” Netflix said, which will almost definitely include more investment in original content. The company has confirmed it plans to spend $8 billion on up to 700 new shows this year.
On it's most recent quarterly report, Netflix said it has amassed $6.54 billion in long-term