Netflix Stock Tumbles On Soft Guidance, Reduced Disclosure
Netflix (NFLX) stock plunged Friday after the streaming video leader forecast lower-than-expected second-quarter revenue and said it would stop giving quarterly subscriber numbers next year.X In afternoon trades on the stock market today, Netflix stock dropped 8.8% to 556.66. With the move, the stock dived below its 50-day moving average line, a key support level.Late Thursday, the internet television network reported better-than-expected results for the first quarter but gave a soft revenue outlook for the ...