Netflix is paring some losses Tuesday, down just 5 percent by 12:15 EDT, after initially falling as much as 14 percent on a big miss on subscriber growth.
The stock was earlier on pace for its worst day in two years, tracking for the name's biggest single-day drop since July 19, 2016, when it fell 13 percent after a similar earnings report of weaker-than-expected subscriber growth.
The shares recovered above $379 in midday trading. The stock closed Monday at $400.48.
Netflix has a history of big rebounds, and much of Wall Street is expecting a recovery. But the initial drop is a notable stumble for one of the best-performing stocks of the year.
As of midday Tuesday, Netflix is up nearly 100 percent in 2018 and more than 130 percent in a 12-month period.
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Netflix shares are up 2,400 percent and the rest of the media industry is struggling — here's why 2:30 PM ET Wed, 13 June 2018 | 02:30
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