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    Tuesday, November 24, 2009

    Wedbush Morgan Downgrades Netflix

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      On Tuesday, Netflix (NFLX) was downgraded to a sell rating by Wedbush Morgan.

      The downgrade, also known as an “underperform,” rating “reflects investor expectations for growth well above what can reasonable be expected,” according to a note written by analyst Michael Pachter.

      Shares of Netflix were adversely affected in the morning, dropping by 2.6% to $58.80. Shares of  Netflix have more than doubled since January, reaching a high above $60 in early November.

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