Netflix Shares Continue To Tumble

Netflix's free fall continued unabated today (Monday) as shares plunged to $56.14 in midmorning trading on the Nasdaq, down an addition 3.5 percent to a new 52-week low. The company was hit anew with damaging news as Consumer Reports published results of a survey indicating that subscribers to Netflix's streaming service are generally dissatisfied with it and prefer those of rival services, including Hulu Plus, Vudu, iTunes, and Amazon Instant Video. Subscribers particularly criticized the selection of movies on Netflix's streaming service. On the other hand, the survey indicated that disc rental services, including Netflix's own, and pay-per-view cable services scored far higher in CR 's survey. Also today, Tony Daltorio, a regular contributor to the Motley Fool Blog Network, in an article titled "Netflix Wilts in the Face of Competition," concluded "Bottom line here for investors is that this once Wall Street darling should be avoided." But Rocco Pendola at TheStreet.com thinks that Netflix's stock will soon settle down "closer to or even below $50." His advice is summed up in the title of his article "Prepare to Buy Netflix before It Rises from the Dead."

30/07/2012


Contactmusic

Tags: Wall Street - Settle - Stock

Advertisement

More Wall Street

Miley Cyrus Covers Up More Than Usual At FGI Night Of Stars Gala - Part 2

It truly was what it said on the tin at the Fashion Group International's 30th Annual Night Of Stars held at Cipriani Wall Street in...

Leonardo DiCaprio Shoots Scene On Wolf of Wall Street Set

'Inception' actor Leonardo DiCaprio is snapped shooting a scene on the set of his upcoming crime drama movie 'Wolf of Wall Street'. He is seen...

Advertisement

Sean Lennon And Friends Cover Material Girl At Occupy Wall Street

Singer songwriter and film scorer Sean Lennon; his girlfriend Charlotte Kemp Muhl; Charlotte's childhood friend Eden Rice; Rufus Wainwright and Dustin Hamman serenade the crowd...

Sean Lennon Snaps Occupy Wall Street Protestors

Singer songwriter Sean Lennon, his girlfriend Charlotte Kemp Muhl, and Charlotte's childhood friend Eden Rice (who is seen sitting in the background) visit the Occupy...

Advertisement

Comments

Wall Street Newsletter

Subscribe to this news alert service to receive news and reviews on Wall Street

Unsubscribe | Unsubscribe All