Netflix (NFLX) Shares Up 43% Since the New Year; Investors May Want to Exit Before Q4 Numbers
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Netflix (Nasdaq: NFLX) continues to defy logic, surging on news that it launched in the United Kingdom and Ireland - something that was pretty widely expected by the market.
Shares of the streaming movie rental company are up 15 percent today to $99.23, but even more astonishing is the 43 percent move since the beginning of the year. That's right 4-3!
Hedge funder Whitney Tilson, who at the start of the year was getting crushed in the position, is now sitting pretty with his $77/share investment.
Shorts on the other hand have to be kicking themselves either for not covering when the stock was in the $60s or shorting more on this recent parabolic move.
The question now is if this move is sustainable? With earnings coming after the market closes on January 25, investors may want lock in any gains into the print.
Shares of the streaming movie rental company are up 15 percent today to $99.23, but even more astonishing is the 43 percent move since the beginning of the year. That's right 4-3!
Hedge funder Whitney Tilson, who at the start of the year was getting crushed in the position, is now sitting pretty with his $77/share investment.
Shorts on the other hand have to be kicking themselves either for not covering when the stock was in the $60s or shorting more on this recent parabolic move.
The question now is if this move is sustainable? With earnings coming after the market closes on January 25, investors may want lock in any gains into the print.
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