Saturday, October 19, 2019

NETFLIX SHARES CONTINUE TO TUMBLE

July 30, 2012 by · Leave a Comment 

Netflix’s free fall continued unabated on Monday as shares closed at $57.75 on the Nasdaq, down an additional 2 percent to a new 52-week low. The company was hit anew with damaging news as Consumer Reports published results of a survey indicating that subscribers to Netflix’s streaming service are generally dissatisfied with it and prefer those of rival services, including Hulu Plus, Vudu, iTunes, and Amazon Instant Video. Subscribers particularly criticized the selection of movies on Netflix’s streaming service. On the other hand, the survey indicated that disc rental services, including Netflix’s own, and pay-per-view cable services scored far higher in CR‘s survey. Also today, Tony Daltorio, a regular contributor to the Motley Fool Blog Network, in an article titled “Netflix Wilts in the Face of Competition,” concluded: “Bottom line here for investors is that this once Wall Street darling should be avoided.” But Rocco Pendola at TheStreet.com thinks that Netflix’s stock will soon settle down “closer to or even below $50.” His advice is summed up in the title of his article: “Prepare to Buy Netflix before It Rises from the Dead.”