UPDATE: Netflix Shares Close At Lowest Price Since January 2010

UPDATE, 1:08 PM: Here we go again. Netflix closed today at $57.01 – a 5.4% drop and its lowest price in more than two and a half years. Its market value is now about $3.2B, down about $1.3BM since Tuesday. That evening the company said that subscriptions might fall short of expectations this year, and it could report a loss in Q4 as it expands into a new overseas market.

PREVIOUS, 8:16 AM: The overall market is up in early trading, but Netflix isn’t joining the party. Its shares are down about 5% after it hit a new 52-week low yesterday. It closed Wednesday at $60.28, tumbling 25.02%. There doesn’t appear to be any new news following the company’s report late Tuesday showing lower-than-expected sign-ups of domestic streaming subscribers, and the likelihood of a Q4 loss as Netflix expands into another overseas market. That startled several analysts, leading some to lower their price targets. The current trading price gives Netflix a market value of less than $3.2B — in the same ball park as companies such as AMC Networks and Gannett. Netflix is down more than 17% so far in 2012 and -78.6% over the last 12 months.

Netflix Stock Hits 52-Week Low On Sub Growth And Spending Fears
Netflix Shares Fall After It Forecasts Losses From Overseas Expansion

This article was printed from https://deadline.com/2012/07/netflix-stock-price-low-307404/