The ever-volatile shares of Netflix, Inc. fell $3.29 to $166.07 on Wednesday, then quickly rose $4.64 to $170.71 at midday trading on the NASDAQ today (Thursday). Wednesday's sell-off was apparently triggered by a client advisory from Evercore Partners that Netflix would likely drop 31 percent to around $115 in the next year. Evercore analysts Alan Gould and Tracy Zhang warned that Netflix hasn't cornered the market on streaming and that competition from other streaming sites will likely force Netflix to cut its subscription rates. While the company is currently the clear leader in the online rental market, the analysts said, we are highly skeptical of Netflix reaching even the low end of the 60-90 million subscribers that management has projected. Meanwhile, Netflix said on Wednesday that SEC regulators had dropped their investigation into the propriety of Netflix's use of social media to make public its financial disclosures. In light of the SEC's guidance, we encourage investors, the media, and others interested in our company to review the information we post on the U.S. social media, it said.
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