Netflix shares fell 6% to start the day, but have since bounced back a little, and as of this writing are only off by 3%.
Investors are reacting to the startling news that the company will be unprofitable in 2012, as well as the fact that it felt like it had to raise $400 million to cushion itself for the next year.
The company’s stock dipped below the $70 mark. That’s an amazing collapse for the year.
Photo: Yahoo Finance, Business Insider annotations