Netflix subs, shares nosedive
In recent months, Netflix has become like your childhood bestie who went to university and decided to reinvent herself in all the worse ways. First it was the bad facelift, then the fallout with Starz, increased prices and the announcement (and very quick cancellation) of the Qwikster DVD service.
And you’re like, “WTH girl — get your act together.”
Witnessing its ups and downs has made many of us rethink our relationship with the internet company, and on Monday Netflix announced it’s lost approximately 800,000 subscribers since June. The following morning, its market shares plunged 35-percent, down $300 from where they were just a few months ago.
So — it’s been a rough week for our old pal, and the company predicts the situation will only get worse in the following months. Hang in there, Netflix. We are rooting for you.