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episode 661: Wall Street Nixes Netflix's Pics.
On Monday, you may recall, we discussed how unforgiving Wall Street would be for any company that did not live up to it's earnings expectations.
And yesterday we had the first, of what I'm afraid may be several, companies which fit this unfortunate category. Netflix, the streaming, online movie service declared that they unlikely to continue bringing in the number of new subscribers, that Wall Street expected. And just like our playbook, Netflix's stocked dropped by 10% in overnight trading.
Unforgiving.