Shares of video-rental service Netflix fell 5 percent in early trading this morning to $56.81.
The company is now trading well below its previous 52-week low, following a collapse in the stock price yesterday when shares fell 25 percent. The company warned in its second-quarter earnings report this week that it might report a loss in the fourth quarter and also might not add as many subscribers as it had expected.
A host of analysts downgraded the stock yesterday and Consumer Reports reported that Netflix's service didn't fare particularly well in a consumer-satisfaction survey.
Though Consumer Reports, … Read more