One journalist, kicks a company that's down, shorts pile on, panic sets in and the irrationality goes non-linear. Netflix all over.
Best bet is to stay calm, and buy a little every $5 or so on the way down.
Profits are up, sales are up, estimates were beat on top and bottom line. Decelerating sales growth is normal - the law of large numbers applies to everyone. Company is making strategic acquisitions to grow the pie and expand its market, so sales growth can pick up again.
The amount you beat analyst estimates by historically over time is not an accepted valuation metric. I'm certain that Warren Buffett and Ben Graham would get a good laugh out of that one.
Oh yeah, there's also almost $11/share cash.
Patience. The markets can remain irrational for quite some time.