Netflix stock crashed 19% today after the company revised its subscriber forecast for the next quarter to 24 million users, down from 25 million.
Netflix’s stock was a gravity defying rocket for about two and half years, but its been falling ever since it announced plans to charge users for both streaming and DVD plans. Netflix said it was necessary to protect its business for the long run.
Regardless, investors have been abandoning the stock. It was outperforming the NASDAQ for most of the year, but now it’s just about in line.
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