Not shocking. Not shocking at all.
This is what happens when you over price something, and then split it into two, inconvenient, mediocre things.
You get virtually no confidence in your stock from shareholders and customers alike. How much more of a wake up call do you need, Netflix?
Swallow your pride:
Shares of Netflix stock were taking another beating during afternoon trading on Thursday, with the price down 11.4 percent to $112.62. The company's stock is currently down 62 percent from its all-time high in July of this year.
SIXTY-TWO percent. What else needs to happen? Fans, customers, and shareholders will applaud if you backtrack and decide not to go through with these ideas, rather than lambast you for backing down.
Especially now with the new Kindle Fire tablet, and Amazon's streaming service looking to grow and take over your market. And out of nowhere it looks like Blockbuster isn't too far behind either with their plans.
Add in Redbox (and rumors of Microsoft getting ready to try their hand with XBox Live content), and just look at all the appetizing options your scorned customers have!
Tags: amazon, bad business, blockbuster, boo, company, fans, image, netflix, redbox, split, xbox live