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Wall Street reacts to Netflix’s Q1 miss, including a top analyst who says stock is ‘dead money’


A picture of a woman starting Netflix on a TV inside her apartment.

Artur Widak | NurPhoto | Getty Images

Wall Street analysts aren’t abandoning Netflix after a major subscriber miss, but many are reigning in their estimates while the bears thump their chests.

Shares of the streaming video giant were down more than 8% in premarket trading on Wednesday after reporting a net addition of about about 4 million subscribers for the first quarter, more than 2 million below consensus estimates. The company also said it expects to add just 1 million subscribers in the second quarter, also well below expectations.

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