Bearish Speculators Increasing Short Positions in Netflix, Inc. (NFLX) Ahead of Earnings Announcement Today After the Close -S3 Partners
S3 Partners Director of Predictive Analytics Ihor Dusaniwsky highlights increasing bearish activity by speculators in Netflix (NASDAQ: NFLX) ahead of the company's earnings announcement after the close, utilizing proprietary data tracking $890 billion worth of short positions.
Dusaniwsky comments, "Short exposure in Netflix Inc. has seen the largest increase over the last week with $184 million of new short interest today and $316 million over the last week – traders are increasing their short positions ahead of today’s 3rd quarter earnings report. Netflix is the sixth most shorted stock in the U.S. market... Netflix short sellers have taken a greater beating than their Marvel series villains, losing over $2 billion in mark-to-market year-to-date losses and are down 49% on the year."