Netflix Inc. tumbled 39% on Wednesday, extending a selloff that has set it on course for a $60 billion wipeout in market value, after it reported a sharp decline in its subscriber base.Netflix traded as low as $212.51 in New York, extending its plunge this year to 64% — making the worst performing stock in the broad S&P 500 and the tech-heavy Nasdaq 100 indexes. Netflix has a 0.7% weighting on the Nasdaq 100 and 0.3% on the S&P 500. The shares are on pace for their biggest drop since October 2004 and are now worth less than $100 billion in market value.The streaming service shocked Wall Street by losing 200,000 customers in the first quarter, the first time it has shed subscribers since 2011. It also projected it will shrink by another 2 million customers in the second quarter.
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