CHART OF THE DAY: Amazon Streaming News Hammers Netflix Stock (AMZN, NFLX)
Source: http://www.businessinsider.com/chart-of-the-day-netflix-stock-performance-2011-2
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Netflix shares took a pretty substantial tumble today on news that Amazon was jumping into the streaming video subscription business.
This is just round 1 in a long fight between the companies. For now, it's hard to envision Netflix subscribers quitting for Amazon, but in the long run Netflix is going to have to deal with a tough new foe.
If you're looking for a bull case for Netflix keep in mind it does one thing -- video rentals and streaming. It's not going to lose its only battle with out putting up a serious fight.
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