Shares of Netflix Inc. /zigman2/quotes/202353025/composite NFLX -0.05% dropped 3.0% in afternoon trading Tuesday, as the streaming video giant extended the pullback that appears to have been fueled by growing optimism over the easing of COVID-19-related lockdown restrictions. The decline comes a day before the launch of rival HBO Max, which is AT&T Inc.'s /zigman2/quotes/203165245/composite T -0.48% new streaming service. The stock was headed toward a six-straight decline, which would be the longest such streak since the six-day stretch ending Aug. 5, 2019. Meanwhile, CFRA analyst Tuna Amobi affirmed the buy rating on Netflix's stock. Prior to the losing streak, the stock had benefited from stay-at-home measures related to the pandemic, as movie theater closures helped fuel interest in streaming services. Benchmark analyst Matthew Harrigan, who rates Netflix a sell, said last week that he was worried the stock could be vulnerable to rotations away from COVID-19 safe-haven names. While Netflix's stock falls, AT&T shares gained 3.7% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.12% surged 1.9% Tuesday to top the 3,000 mark for the first time since March 5.