Netflix Drops $12 After Opening Equity Pop
Netflix Inc (NASDAQ:NFLX) started the week off with positive news for customers and investors by announcing plans to keep its streaming and DVD businesses together. The company does plan to continue with its price hikes.
On Sept.18, the company announced plans to separate the two businesses. Customers did not respond positively. With today’s news to backtrack on the separation plans, some analysts expressed skepticism that Netflix (NASDAQ:NFLX) will gain goodwill from their customers. Janney Montgomery Scott analyst Tony Wiblett noted the company was in “desperation mode.”
Investing Insights: Here’s Why The Netflix Moat Is Running Low.
Netflix’s stock (NASDAQ:NFLX) is down 0.67% to $116.43 on the news. Shares are down 33.3% year to date. The stock has traded in a 52-week range between $107.63 and $304.79.