Netflix Stock Erases 12 Months Of Massive Growth, Crashes Through 52 Week Low

And with the sound of Wall Street's opening bell, Netflix quickly dipped below its 52 week low, opening at $141.40 but falling within a few seconds under $140. [NASDAQ:NFLX] Over the past two months the company watched subscribers leave along with 55% of its market cap from the same time period -- which now places their valuation at its 52 week low of $7.46B. On July 12, 2011, just one day prior to Netflix's all-time high price of 304.79, the company announced a radically different corporate structure and also raised the price of the most popular subscription plan by 60%. Sure, it's still the top consumer of internet bandwidth and the de facto leader in video streaming services, but the company's stock has lost a year of growth in a matter of two months, or rather, two decisions.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/PRIbMvc7t2w/

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