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Netflix Says Goodbye To Qwikster, Stocks Reach 52 Week Low!

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netflix reaches 52 week low on wall street


While it was definitely a good move on Netflix's part to backtrack and NOT split into two companies, let's not forget that they STILL totally screwed their customers by raising prices by 60%!

Tell us, Netflix! Was this whole Qwikster thing some sort of diversion to take the focus off the price hike, so that when you decided to remain as one single service, we'd be so relieved that we'd forget we're paying WAY too much money for your service??? If so, we're sorry but it didn't work.

Netflix stock prices hit a 52-week low yesterday, and they closed down 4.8%, once people realized they were still being charged absurd prices by the formerly awesome company.

Here's what Janney Montgomery Scott analyst Tony Wible had to say about it:

"There is broken credibility and no asset sale - two pillars bulls lean on. We believe today's announcement signals an end to the possibility of Amazon.com acquiring Netflix's streaming business."

More from Barclays Capital analyst Anthony DiClemente:

"With today's announcement, we are pleased to see management reverse course with this strategy and importantly listen to its users. But given the amount of negative news flow around recent company initiated actions - including the pricing change, which remains in effect -we believe it could take some time for consumers to come back to Netflix."

We agree it will take quite a bit of time for Netflix to gain customers back IF they do at all! Blockbuster is making a strong effort to grab disillusioned Netflix customers!

Hurry over to IMDB! Blockbuster ads are all over the site! Netflix is in trouble!

What do U think? Will Netflix ever recover???

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7 comments to “Netflix Says Goodbye To Qwikster, Stocks Reach 52 Week Low!”

  1. 1

    The thing is Mario, Netflix listened FINALLY to it's customers and took away the 2 websites and said it MADE A MISTAKE, went to fast. Most companies do not admit to mistakes. Also, Netflix traded, according to a finance segment I just watched, 10% above . Yes, raising prices was not good, but you are acting like it was a fortune! You can't BUY a DVD for that price. As for Blockbuster, they filed for chapter 11 last year. You can't find a Blockbuster store around me anymore. If you want to get a DVD in person, you go to one of those Redbox rental machines-they are all over my area now.

  2. 2

    Dear Perez… Let me guess, you are being paid by blockbuster to push their shitty service. I will never go back to blockbuster, their customer service is HORRIBLE & return times for DVD's is SLOW. Netflix is fighting with distributors to get the movies the customers are whining to stream. They have been getting the shaft because the distributors want too much money. They want to keep it so all of us have to pay per movie so they get their %. I am sorry but the movie industry makes a shit load of money why cant they just shut the hell up and let netflix revolutionize the way we watch our movies.

  3. 3

    Oh SCREW U Netflix! You guys are total idiots! Your streaming is crapp. I just use online streaming services like TVDevo which is a fraction of the cost and the streaming offers more.

  4. 4

    Ya, way to sell out. Kind of like having 30 second commercials before 30 second videos…PEREZ!!!

  5. 5

    60%… my plan went from $8.99 to $17.99…

  6. 6

    You guys are fucking retarded. Remember the time before netflix? When you went to the movie store and rented a movie for 5 bucks? And if you brought it back late it was 3 more dollars? That's basically 8 dollars for one fucking DVD. Now you can watch UNLIMITED movies for 8 dollars A MONTH. Either stop bitching about it and pay or don't. Netflix doesn't give a shit if they lose your whiny ass. You should just be happy that it was that cheap for as long as it was.

  7. 7

    So sorry people, but- WHAT DO YOU EXPECT?! Everyone is a sucker for a company that's a few dollars cheaper and employs far less people to create those prices. THEN (of course) their competitors collapse and they are FORCED to raise prices! BTW- I hope you guys quit your bitching when Amazon's prices raise 10 fold.