Netflix CEO’s ‘Attaboy’ Lifts Shares, but Not Enough

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Netflix’s stock climbed 13.4% last Thursday — after CEO Reed Hastings posted a pithy congrats to his company for delivering more than 1 billion hours of video to subs in June — but the shares were still well off their 52-week high. 

“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. 

The CEO’s enthusiastic status update drove Netflix shares up, closing at $81.72 on July 5. 

But 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 subcription 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 this year to close at $129.25 in February. Shares tumbled again this April and bottomed out at $60.70 last month after Netflix said growth would slow in the second quarter. 

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

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