#NETFLIX STOCK PRICE 2016 CRACK#
The drop in customers has led Netflix to break some of its long-standing rules: it will introduce a cheaper, advertising-supported option for subscribers in the next couple years and will start to crack down on people sharing their passwords even before that. Consumers feeling the pinch from inflation will be looking hard at their expenses and streaming services are a quick way to save money, he said. “A big problem with Netflix is that it’s too easy to leave the service,” said Russ Mould, investment director at AJ Bell. It also projected it will shrink by another 2 million customers in the second quarter. The streaming service shocked Wall Street by losing 200,000 customers in the first quarter, the first time it has shed subscribers since 2011.
The shares are on pace for their biggest drop since October 2004 and are now worth less than $100 billion in market value. Netflix has a 0.7% weighting on the Nasdaq 100 and 0.3% on the S&P 500. Netflix traded as low as $212.51 in New York, extending its plunge this year to 64% - making the worst performing stock in the broad S&P 500 and the tech-heavy Nasdaq 100 indexes. tumbled 39% on Wednesday, extending a selloff that has set it on course for a $60 billion wipeout in market value, after it reported a sharp decline in its subscriber base.
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