Netflix is on track for its lowest close since January (NFLX)

Reed Hastings, CEO of NetflixHector Vivas/Latin Content/Getty Images

  • Netflix shares were hit hard for a third straught session Friday, and on track for their lowest close since January.
  • The selling has come amid broader stock-market weakness, with the tech-heavy Nasdaq Composite index losing 6.4% since Wednesday, when the social-media network Facebook was sued by Washington, DC.
  • Netflix has tanked 33% since its October peak despite the company posted strong third-quarter earnings and subscriber growth on October 16.
  • Watch Netflix trade live.

Netflix tumbled as much as 7.3% Friday to an intraday low of $ 241.36 a share, and was on track for its lowest close since January.

The streaming-video giant was under pressure for a third straight session Friday amid broader stock-market weakness that has seen the tech-heavy Nasdaq Composite index shed 6.4% since Facebook was sued on Wednesday by Washington, DC, over its Cambridge Analytica data scandal. On Tuesday evening, Facebook admitted that Netflix and Spotify were able to access Facebook’s user messages.

See the rest of the story at Business Insider

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Post Author: martin

Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of and Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

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