Yesterday,
I wrote about Reed Hastings decision to split Netflix into two businesses --
Netflix (the online streaming business) and
Qwikster (the legacy DVD business). Intellectually, I didn't "get it" (and I wasn't alone), although I understood the emotional rationale. And, I questioned whether the company moved too quickly (and felt I was very clever by saying "
Qwiksterly", although I now cringe a bit when reading that one).
I also predicted that Netflix's stock would get hammered after the announcement.
Prediction fulfilled. As of 7:15 am PT, the stock is now trading at its 52 week lows ($135/share) -- and about $20 lower than when Hastings announced the news.
Yikes ...
