Shares in the streaming giant fell back 8.5 percent on Thursday after MoffettNathanson analysts warned a gain from turning password-borrowers into paying customers had possibly run its course.

Subscriber numbers continued to shoot up in the second half of last year, but Netflix hasn’t significantly expanded its user base, Moffett Nathanson said.

The streaming giant sees its stock price drop again on Friday after MoffettNathanson warned its subscriber growth could slow in the quarters ahead The post Netflix Shares Continue Slide Amid Analyst Concerns Over Password Crackdown appeared first on TheWrap.

Shares of Netflix fell 8.5% Thursday, as investors reacted to analyst projections for slowing subscriber growth after record gains last year on its password-sharing crackdown. The stock’s decline also came as the wider market declined on President Trump’s shifting decisions on tariffs against Canada and Mexico.