Why Netflix Stock Fell Today
Netflix (NASDAQ: NFLX) sank on Friday, adding to the brutal decline in its stock price since it delivered its first-quarter earnings report on April 19. As of 2:10 p.m. ET, the streaming leader's shares were down by more than 4%, and had been off by as much as 6.6% earlier in the session.
Netflix shocked investors a few weeks ago when it disclosed that its total subscriber number fell by 200,000 in the first quarter. It was the first time the streaming titan had a net loss of subscribers in more than a decade. Worse still, Netflix said it expects to lose another net 2 million subscribers in the second quarter.
Netflix has shed nearly half its value since then. The decline is even more shocking when viewed relative to the stock's peak above $700 per share in November. It is now down a staggering 74% from that lofty level.
Source Fool.com
