Netflix Stock Falls to Early 2010 Levels
The stock was down more than 35% to hit the mid-$70s range in early Tuesday trading following analyst downgrades.
NEW YORK - Shares of Netflix in early Tuesday trading hit their lowest level since April 2010.
As of 10am ET, the stock was down 35.9 percent at $76.15 after earlier hitting a 52-week low of $74.37. The company's stock last traded at these levels in early April 2010.
Its 10am price gave the streaming video company a market value of $3.9 billion.
The sharp stock drop followed analyst downgrades after worse-than-expected third-quarter subscriber losses and forecasts of financial losses next year.
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Over the past year, Netflix shares have traded as high as $304.79, an all-time high set as recently as mid-July.