Netflix Plunging 5% (NFLX)

Netflix, Inc. NFLX shares continue to plunge, down more than 5% today on reports that Facebook is going to be entering the video on demand market.

At last check, shares of Netflix were taking a beating, down more than $11 to $196.31, a loss of 5.1% on just over 6 million shares. This is already the average trading volume for the day, and that's with two and a half hours left to go in the trading session.