Netflix Stock Drops Following Mass Customer Loss

The video rental company reported it lost 800,000 customers since the summer.
0:43 | 10/25/11

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Transcript for Netflix Stock Drops Following Mass Customer Loss
Netflix shares were down more than a third this morning at the opening bell that's on top of the 60% the stock has already bled in recent months. The new losses come as Netflix reports it lost 800000 customers since the summer she -- -- -- -- from Bloomberg TV's as. Netflix is in need of some major image repair. CEO Reed Hastings did acknowledge the company's missteps saying that they've lost some of their good hard earned reputation that they're going to be working to build it back up. He says He does remain confident in the future the company right now bell investors not -- -- they have a lot more work to do before they get back into the graces the investors. And Netflix says it is trying to expand into Europe.

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