The following commentary is from an investment professional with Clear Harbor Asset Management who is a participant in TheStreet's expert contributor program.NEW YORK ( TheStreet) -- Last year was painful for Netflix ( NFLX) shareholders, and 2012 isn't shaping up very well either. Last summer, shares of the online video company traded mostly over $250, reaching the $300-mark at one point. Less than a year later, the stock has lost well over half its value, trading below $100 despite a healthy gain for major stock indices during that time-frame. The latest selloff, in response to its first-quarter earnings release on Monday afternoon, sent the price below $90. Not surprisingly, Netflix doesn't appear to be encouraging much participation in its annual shareholders' meeting, which is scheduled to take place on Friday, June 1 at the company's headquarters in Los Gatos, Calif.