After reporting slower subscriber growth, Netflix gaps down and breaks through its most aggressive uptrend line.
Is that due to competition, you think?
They just can't keep up the huge subscriber growth (at that pace) forever. So their stock gets "priced to perfection" as investors become overly bullish on it. Then when something bursts their emotional bubble, they bail out. That's what caused a $60 per share loss within 24 hours, or a 15% drop...in one single day. Now...NFLX is recovering some intraday, but its still just under that trend line so far.
Their content has something to do with their lack of growth too I believe. The upcoming Obama programing as well as hiring Susan Rice (Benghazi disaster) has a lot of customers very angry... including myself... I found that I can do without Netflix.