Why Netflix Stock Plummeted 35% This Week
Shares of the video streaming giant Netflix (NASDAQ: NFLX) fell hard this week after the company reported a net subscriber loss in its first quarter and said it expects to lose more subscribers in the second quarter.
Netflix investors were obviously concerned about the news and sent the stock falling 34.6% over the past week, according to data from S&P Global Market Intelligence.
Netflix lost about 200,000 subscribers in the first quarter, marking the company's first-ever drop in subscriber growth in a decade. The loss of subscribers was bad enough, but it was also a shock to investors because management had previously said the company would gain 2.5 million subscribers.
Source Fool.com
