For Netflix (NFLX), 'Arrested Development' May Have Missed the Mark
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Netflix (Nasdaq: NFLX) shares are lower on the first day of trading since a revived "Arrested Development" showed up with 15 fresh episodes over the weekend.
The cult classic was the first effort for Netflix to generally eschew its playbook of creating new content and going with new episodes of a show that already has a built-in fan base. Today's weakness might be due to multiple small reasons, such as a "sell the news" move as months of marketing came ahead of last weekend's premier.
In addition, critics who watched the shows over the weekend were flat to critical of the series. CNN has a nice compilation of some of the more notable reviews, from the WSJ to BuzzFeed. All-in-all, most were ho-hum on the revival, saying the show didn't have quite the same magic it once did. But, after a 7-year hiatus, what was expected.
Netflix itself has said a massive surge in subscriptions isn't expected. However, "Arrested Development" is a test to see what it can and can't get away with. More information from about how "Arrested Development" fared will probably be released over the next few weeks or with Netflix's next quarterly report.
For now, investors are taking a little more off the table until the next season of "House of Cards" hits the stream. Shares of Netflix are down 6.6 percent and at session lows.
The cult classic was the first effort for Netflix to generally eschew its playbook of creating new content and going with new episodes of a show that already has a built-in fan base. Today's weakness might be due to multiple small reasons, such as a "sell the news" move as months of marketing came ahead of last weekend's premier.
In addition, critics who watched the shows over the weekend were flat to critical of the series. CNN has a nice compilation of some of the more notable reviews, from the WSJ to BuzzFeed. All-in-all, most were ho-hum on the revival, saying the show didn't have quite the same magic it once did. But, after a 7-year hiatus, what was expected.
Netflix itself has said a massive surge in subscriptions isn't expected. However, "Arrested Development" is a test to see what it can and can't get away with. More information from about how "Arrested Development" fared will probably be released over the next few weeks or with Netflix's next quarterly report.
For now, investors are taking a little more off the table until the next season of "House of Cards" hits the stream. Shares of Netflix are down 6.6 percent and at session lows.
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