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Netflix stock plunges 25% after analysts slash estimates
Jul 25th 2012, 23:40

It's looking like another bad summer for Netflix. One year after a sudden price hike and a bungled plan to establish a new DVD brand, the subscription video company’s stock is again plummeting. It fell 25% on Wednesday, closing at $60.28. This time the culprit is investors’ concern that domestic growth is slowing while management is moving too fast to expand overseas. Following disappointing news in Tuesday’s financial results, at least seven Wall Street analysts lowered their price target for the stock. Wednesday’s drop took Netflix shares to their lowest point since early 2010. One year ago, they were trading at $281.53, 79% higher than Wednesday’s closing...

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