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: Netflix looks to hook subscribers with 'Arrested'

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 tech giant Alibaba set to make a splash with US IPO

14 hours ago

The largest tech IPO of the year will come from a company that many Americans have never heard of. Alibaba Group - a Chinese e-commerce behemoth - has decided to go public in the U.S. after months of speculation that it would ...

Ex-Apple chief plans mobile phone for India

Apr 19, 2014

Former Apple chief executive John Sculley, whose marketing skills helped bring the personal computer to desktops worldwide, says he plans to launch a mobile phone in India to exploit its still largely untapped ...

Airbnb rental site raises $450 mn

Apr 19, 2014

Online lodging listings website Airbnb inked a $450 million funding deal with investors led by TPG, a source close to the matter said Friday.

User comments : 0

More news stories

Finnish inventor rethinks design of the axe

(Phys.org) —Finnish inventor Heikki Kärnä is the man behind the Vipukirves Leveraxe, which is a precision tool for splitting firewood. He designed the tool to make the job easier and more efficient, with ...

Making graphene in your kitchen

Graphene has been touted as a wonder material—the world's thinnest substance, but super-strong. Now scientists say it is so easy to make you could produce some in your kitchen.

Poll: Big Bang a big question for most Americans

Few Americans question that smoking causes cancer. But they have more skepticism than confidence in global warming, the age of the Earth and evolution and have the most trouble believing a Big Bang created the universe 13.8 ...