Netflix Tumbles After Forecasting Slower Online Growth
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Netflix Inc., the world’s largest video-subscription service, fell the most in almost six months after projecting a slowdown in growth of U.S. streaming customers.
The shares tumbled 14 percent to $87.68 at the close in New York, the biggest decline since Oct. 25, when Netflix reported a loss in U.S. subscribers for the third quarter. The stock has retreated 71 percent from the all-time closing high of $298.73 set in July 2011.