Netflix Under Pressure Amid Concerning Report About Domestic Subscribers

Shares of Netflix, Inc. (NASDAQ: NFLX) were trading lower by more than 4 percent Wednesday after M Science, a research focused firm that relies on data analytics in its analysis, issued a warning.

According to M Science, a "churn among price-affected subscriber" likely drove a Q3 domestic subscriber miss.

The report also comes a day after Netflix's management team presented at Goldman Sachs' Communacopia conference. According to Seeking Alpha's newsdesk, management said its game-plan over the next few years is for half of its entire content to be original programming.

"We don't necessarily have to have home runs," Netflix's Chief Financial Officer David Wells was quoted as saying. "We can also live with singles, doubles and triples especially commensurate with their cost."

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Shares of Netflix are lower by nearly 20 percent in 2016 and were beaten up after the company's Q2 earnings print fell short of expectations. Analysts at Morgan Stanley even described the report as being the "mother of misses."

Shares staged a rebound as many investors felt that an $80 per share level represents the bottom in the stock. However, the stock tested the $100 per share level several times throughout September, but failed to hold the level and traded as high as $100.35.

After more than hour of trading on Wednesday, shares of Netflix were lower by 4.39 percent at $93.34.