Why Netflix (NFLX) Is Falling on Friday

NEW YORK (TheStreet) -- Netflix (NFLX) is sliding over the afternoon trading session on Friday, victim to a broad selloff among high-momentum tech and biotech stocks on the Nasdaq.

By late afternoon, shares had taken off 4.4% to $339.06. Trading volume of 4.3 million had exceeded its three-month daily average of 2.6 million.

The decline is the second consecutive day of losses suffered by the streaming company. Since Thursday, the stock has dropped 6.6%, in line with the Nasdaq's 3.4% fall.

Other heavy volume decliners include E*Trade Financial (ETFC), down 8.1%, TripAdvisor (TRIP), down 5.9%, and Facebook (FB), down 4.4%.

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TheStreet Ratings team rates NETFLIX INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

"We rate NETFLIX INC (NFLX) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."

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