Netflix Stock Still Down 73% From Its 52-Week High

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Netflix’s stock climbed 13.4% on Thursday, after CEO Reed Hastings in a pre-Independence Day celebratory post congratulated his company for delivering more than 1 billion hours of video to subs in June.

“We’ll blow these records away” once Netflix debuts an exclusive season of Arrested Development and a remake of the BBC’s House of Cards, Hastings bragged in a Facebook post on July 3.

The CEO’s enthusiastic status update drove Netflix shares up, closing at $81.72 on Thursday.

But the stock is still well off its 52-week high. Down about 73%, in fact. A year ago, the stock was soaring above $300 per share, hitting a peak of $304.79 on July 13, 2011.

Netflix’s stock price still hasn’t recovered from the major hit it took after executives announced a decision to split the DVD and streaming-video plans, in what amounted to a price hike on most customers — erasing more than $10 billion in market value.

Last fall the stock fell to less than $70 per share after the company in October announced a net loss of 800,000 U.S. subscribers, before rebounding earlier in 2012 to close at $129.25 on Feb. 6. Shares tumbled again this April and bottomed out at $60.70 last month after Netflix said growth would slow in the second quarter of 2012.

Netflix is scheduled to report Q2 2012 results on July 24 after market close.

Here’s the one-year chart for NFLX’s closing prices:


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