Tuesday September 20, 2011

Netflix Continues to Receive Market Beat Down

I think Reed Hastings' next apology letter better be to his shareholders. Good job on tanking your stock by more than fifty percent in just two months.

Shares of Netflix continued to slide a day after the company was widely criticized for deciding to split itself into two services. In morning trading today, Netflix shares were down $12 or 8 percent to $131. The stock was setting new 52-week low seemingly with each tick of the clock. No, this is nowhere near the plunge the company the day after it announced it had erred in predicting how many subscribers would drop the service as a result of doing away with a hybrid subscription plan.