Netflix Stock -9.4% As Wall Street Miracles How Low Sometimes It Can Go

Reed Hastings’ Apology Does Not Stop Stock Slide Hastings States “I Screwed Up” DVD Unit Will Split, Rebrand As Qwikster The Netflix situation has become frightening. The stock was lower another 9.4% today, to $129.66. Which means the organization has lost 55.4% of their value since This summer 11, yesterday it introduced its decision to separate the streaming video service from DVD rental fees — boosting the subscription cost by 60% for individuals who still want both.Yesterday, Boss Reed Hastings apologized for his PR blunder by attempting to ignore this. Headdingthat the DVD-rental business may have a brand new title, Qwikster, and start to rent game titles too. How low can Netflixgo? Caris & Co analyst David Burns todayslashed his targetprice to $103 from $185 making his second downgrade per week. Last Friday, he consideredNetflix an “above average” investment. Nowhe states it’s”below average,” observing thatthe odds thatthe company will quickly have its first quarter with $1B in revenues — which some experts have expected — “are now fleeting at best.”Lazard Capital Marketplaces’ Barton Crockett, who's neutral around the stock,known as the Qwikster decision a “stumble” adding that lots of customers will “be confused and not discover the Qwikster website.” But Barclays Capital’s Anthony DiClemente maintained his recommendation for traders to “overweight” Netflix stock that they states could hit $260: Although moving the DVD business off into Qwikster “does add uncertainty” for the short term, he notes it frees Netflix to create better choices for video streaming — including methods to optimize its interface for apple iphones and iPads.