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Netflix falls 6% on AD panning

May 30, 2013

Netflix stock fell by more than 6 per cent as investors reacted to poor reviews of the first new Arrested Development episodes since Fox canned the TV series seven years ago.

The shares shed $14.55 on Tuesday to close at $214.19, marking the biggest one-day drop in the stock in nearly six months.

Netflix declined to disclose any information about how many of its 29.2 million US subscribers have watched Arrested Development since all 15 new episodes were released last week.

Arrested Development is the third original series to debut this year on Netflix, but it has attracted far more attention because of its built-in fan base, Emmy awards and a popular cast.

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