- Netflix posted strong third-quarter earnings and subscriber growth on October 16, but shares tanked more than 36% over the following two months as the broader tech sector came under pressure.
- After bottoming at $231.23 in late December, Netflix shares have surged by more than 45%.
- The company's recent rebound is overreacted in the eyes of short seller Andrew Left.
- Netflix's market-capitalization gain over the past 12 days equals 12 DreamWorks Animations , 12 Lionsgate s, 10 Roku s, or 5 Hulus, Left said.
- Watch Netflix trade live.
Netflix investors have too much confidence in the stock and lack adequate judgment, the short-seller Andrew Left's Citron Research said Friday.