Netflix (NFLX) Bounces; Icahn Says He Hasn't Sold 'One Share'
Tweet
Share
E-mailGet Alerts NFLX Hot Sheet
Join SI Premium – FREE
Netflix (Nasdaq: NFLX) was pressured earlier on the session amid speculation by some that activist investor Carl C. Icahn sold some of his stake in the streaming video giant.
CNBC had earlier asserted the claims, leading some early selling in Netflix to dip as much as 7 percent to $164.26. However, CNBC noted a little later that Icahn had not, in fact, exited any of his stake. Icahn was also said to say that, "subscription rates at Netflix will continue to climb!"
We noted earlier that Netflix was hovering above the $175 level over the last few weeks until today, potentially a technical move by the stock.
Recent market data points to a 0.6 percent increase in short positions on Netflix from the start through middle of March to 8.47 million shares, or 15.5 percent of the public float.
Shares have pared some losses and are now down 5.2 percent.
CNBC had earlier asserted the claims, leading some early selling in Netflix to dip as much as 7 percent to $164.26. However, CNBC noted a little later that Icahn had not, in fact, exited any of his stake. Icahn was also said to say that, "subscription rates at Netflix will continue to climb!"
We noted earlier that Netflix was hovering above the $175 level over the last few weeks until today, potentially a technical move by the stock.
Recent market data points to a 0.6 percent increase in short positions on Netflix from the start through middle of March to 8.47 million shares, or 15.5 percent of the public float.
Shares have pared some losses and are now down 5.2 percent.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Walmart expected to beat Q2 estimates as tariff refunds lift margins
- BMO Capital Reiterates Outperform Rating on Netflix (NFLX), Advertising Seen As a Key Lever
- Ackman adds Netflix, Visa and Mastercard in portfolio revamp
Create E-mail Alert Related Categories
Hedge Funds, Insiders' Blog, TechnicalsRelated Entities
Carl IcahnSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
