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Netflix Stock Drops Sharply With Launch of New Streaming Contenders
Thu Mar 10, 2011 at 10:00 AM ETTags: Netflix, Amazon, Industry Trends (all tags)
The stock continues to decline as more competition comes into view.
Netflix stock started a climb last February and seemed nearly unstoppable. In May of 2010 it reached a value of $100, it broke $150 in September and reached $200 for the first time in December. It's a huge climb in a short amount of time.
On February 14th, Netflix stock nearly reached $250 a share, but the leaks and eventually the announcement of the Amazon Prime streaming service on February 22 brought stock down to around $200.
After the announcement of the availability of 'The Dark Knight' on Facebook, Netflix shares tumbled further. It hasn't been a good few weeks for the company.
Source: Yahoo Finance
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