Netflix, Inc. (NFLX) Crashes As The Streaming Market Heats Up

photo: Bidness ETC

The drop in Netflix’s stock was instigated in the third week of August when it was pulled into the broad media decline. Initially, when media juggernauts, such as Walt Disney and Time Warner started off with the descent early August, the streaming giant was perceived to be the anti-establishment bet for being insusceptible to the market slump. However, Netflix was impervious only for a few days and soon followed the massive media market drag. It tanked 7.84% on August 20 to $112.49 per share, with a further crash of 5.60% in extended hours trading. The decline later continued well into the subsequent weeks. – George Zack, Bidness Etc