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Qwikster calamity socks Netflix stock

After trading at more than $300 in July, Netflix (NFLX -34.90%)was hovering around $77 a share Tuesday. It's all because of an earnings report after the bell Monday that showed customers left in droves and revenue missed forecasts by a mile.

The culprit is obvious: the ill-advised Qwikster scheme that aimed to split Netflix's streaming services and DVD delivery into two operations instead of a one-stop website. Qwikster was killed before it became a reality, but the damage remains to the once-loyal customer base of Netflix.