Netflix has hemorrhaged 20% of its value in the last 3 days of trading
The entire stock market got crushed Monday morning, especially tech and media companies, but many stocks rallied later in the day.
Netflix's stock, however, closed significantly down for the third day of trading in a row.
Last week, Netflix fell 7.8% on Thursday and then 7.6% on Friday. The 6.8% it hemorrhaged on Monday means the company has lost around 20% of its market value in the past week.
The initial Netflix downturn began on Thursday, when media stocks began to fall after Disney and Time Warner were downgraded by analysts from Sanford C. Bernstein, who changed their rating from "outperform" to "market perform."
But Netflix plummeted to a much greater degree than other media properties, and has continued to free fall.
Prominent tech stocks including Facebook, Apple, and Twitter also closed down on Monday. Apple's share price fell below $100 at one point during trading on Monday, but closed down around 2.5% at $103.15.
