Subscriber Loss Sell-off: Is It Time to Dump Netflix Stock?

A 35% drop in a stock's value is hard to stomach. When it happens in one day, it feels even worse. That's what happened to Netflix's (NASDAQ: NFLX) stock on Wednesday after it reported first quarter earnings. However, the meltdown was deserved due to its membership dropping for the first time in more than 10 years. The company reported that it lost 200,000 subscribers in the quarter and anticipates losing a whopping 2 million more in Q2. 

After trading for more than $700 last November, the stock is down more than 67% from its all-time high. Anyone who bought at those levels or within the previous four years is now in the red. Is it time to purge your portfolio of Netflix stock? 

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Source Fool.com