Netflix Stock Plummets After Low Subscriber Prediction

Thursday, September 15 by
 

It’s going to be a bad Christmas at the Netflix house this year. In an attempt to embrace the new market of those who prefer streaming to DVD viewing, the company introduced a new subscription price model that didn’t go over so hot. In fact, it caused one million angry subscribers to cancel their subscriptions which has now caused the stock to plummet to a drop of more than 17 percent.

As an investor in Netflix, I’ll be having canned tuna for dinner tonight. And not the one they sell for human consumption. (CBS)

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