Netflix's Stock Price Is Taking a Beating

Investors apparently care more about the company's 800,000 lost subscribers than the company's $822 million earnings

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Netflix's stock is down 36 percent on Tuesday morning, as investors are apparently worried about the company shedding 800,000 subscribers in the last quarter. The quarterly report was actually fairly positive in income terms, with $822 million in quarterly earnings. But omninous warnings about the future and a hangover from the Qwikster fiasco, in which they initially planned to split DVD-by-mail from their streaming service, apparently has investors spooked. Netflix stock already fell 16 percent after yesterday's announcement. On Tuesday so far, the price is hovering around $76 per share after peaking near $300 in July.

This article is from the archive of our partner The Wire.