Netflix stock sinks on mixed reviews of 'Arrested' (Update)

May 28, 2013

(AP)—The hoopla surrounding the return of "Arrested Development" on Netflix's Internet video service has dissolved into a letdown on Wall Street.

Netflix's stock fell more than 6 percent Tuesday as investors reacted to critics' mixed reviews of the first new "Arrested Development" episodes since the Fox broadcast network canceled the series seven years ago.

Netflix Inc. released all 15 episodes of the resurrected "Arrested Development" at the same time early Sunday.

Analysts insist it's still too early to tell whether "Arrested Development" will be a hit or a flop.

Netflix had 29.2 million U.S. subscribers in March. The Los Gatos, Calif., company is hoping positive buzz about "Arrested Development" will help add as many as 880,000 more customers by the end of June.

The stock closed at $214.19, down $14.55.

Explore further: Nigeria launches national identity card scheme

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Netflix shares soar as ranks of viewers surge

Apr 23, 2013

Netflix shares jumped 24 percent in after-hours trade on Monday on earnings figures indicating that original programs and other tactics are luring viewers to the streaming Internet video service.

Recommended for you

Chinese e-commerce rivals challenge Alibaba (Update)

2 hours ago

China's biggest property developer, Wanda Group, and Internet giants Baidu and Tencent unveiled a new e-commerce venture Friday in a challenge to industry leader Alibaba Group ahead of its U.S. stock offering.

Nigeria launches national identity card scheme

15 hours ago

Nigeria's President Goodluck Jonathan on Thursday launched a national electronic identity card scheme, which backers said would boost access to financial and government services in Africa's most populous nation.

Vivendi, Telefonica in talks over Brazil business (Update)

Aug 28, 2014

French media conglomerate Vivendi said Thursday it would begin exclusive talks with Spanish telecoms company Telefonica for the sale of its Brazilian operator Global Village Telecom, or GVT, after the Spanish company raised ...

User comments : 0