Netflix shares are down about 5% today, following a downgrade of the stock by Morgan Stanley analyst Scott Devitt.
Devitt downgraded the stock because Netflix rivals like Amazon Instant and Hulu are beefing up their own original content. He also argues that Hulu has better television show programs than Netflix and is able to get on more devices faster, according to Deadline.
Here’s a look at the Netflix stock today:
Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions.
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