Traders are loading up on bets against Netflix ahead of earnings
Original story at Business Insider• 2 mentions • 1 week ago
Business Insider 1 week ago
Netflix is set to report second-quarter earnings after the closing bell on Monday, and traders aren't taking any chances with the red-hot stock. Short interest — a measure of bets that share prices will drop — sits close to the highest level of the year ahead of the earnings announcement, according to data compiled by IHS Markit. The increased shorting activity is a natural reaction to a stock that's done as well as Netflix, which has surged 30% year-to-date. As part of the elite group known as FANG — along with Facebook, Amazon and Google — the company has been ...