October 16, 2014

Netflix 24% drop proves that Wall Street is mad

Netflix stock is down 24% due to the company missing its subscriber forecast. From Recode:

The company missed on both its US and international numbers: It ended the quarter with 37.2 million domestic subscribers, and it had predicted 37.6 million; it also had 15.84 million subscribers outside the U.S., and it had told Wall Street to expect 16.16 million.

24% down because of that? 24% is a lot, to put things mildly. Now’s probably a good idea to buy Netflix stocks…

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