A combination of Netflix cracking down on password sharing while also continuing to raise their prices might have come back to haunt them.

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.

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.

The company's stock fell as many stock prices declined because of overall economic turmoil. The post Netflix stock is falling after forecasts show slower subscription growth appeared first on The Manual.