Netflix's stock falls more than 6 percent on Tuesday as investors react to critics' reviews on the recently-released season 4 of the revived sitcom.
The season 4 debut of "Arrested Development" has apparently brought a bad impact on Netflix. Despite the highly-anticipated return, the show's new installment didn't please many critics and it's believed to have caused the Internet streaming media's shares to fall.
On Tuesday, May 28, Netflix's stock fell by more than 6 percent to close at $214.19 as investors reacted to the mixed reviews obtained by the new "Arrested Development" episodes. Though so, IDC analyst Greg Ireland says it's too early to tell whether Netflix's latest original programming will be a hit or a flop for the company.
Netflix hasn't released the viewership number of "Arrested Development", but data collected by various sources suggested that the show fared quite well. According to broadband technology firm Procera Networks, thirty-six percent of all devices connected to Netflix via one unspecified DSL network watched "Arrested Development". It's three times the viewership "House of Cards" posted a few months ago.
The number could've been bigger if all fans watched the show through the official platform. TorrentFreak's editor reveals that the fourth season has been downloaded more than 100,000 times since it premiered on Sunday.