Why Netflix Stock Dropped Today
Shares of streaming powerhouse Netflix (NASDAQ: NFLX) got pummeled in afternoon trading Tuesday, falling 5.3% on a one-two-three punch of bad news from Wall Street.
In rapid succession, Netflix suffered a price target cut, a negative preview of its third-quarter earnings report, and a scathing criticism of the company's plan to add an ad-supported tier to its streaming service.
Tic-tac-toe, three in a row, it's nothing but bad news for Netflix today, beginning with StreetInsider reporting that Goldman Sachs has trimmed its price target on the streaming stock to $182 -- and maintains a sell rating on the shares.
Source Fool.com
