Netflix, the DVD and streaming video company, enjoyed a stock price above $100 for many months. However, it tried to change its pricing policy and lost subscribers. In announcing 2011 third‐quarter earnings, the company noted on October 24, 2011 that the fourth quarter would be weaker than analysts expected. Netflix closed at $118.84 on October 24 when the markets closed at 4 p.m. It then fell 27 percent to $87 in after‐hours trading. It opened the next day at $77.37.