With Netflix Back To 52 Week Lows, Here Are The Biggest Losers
That didn't take long. After touching a ridiculous price of $304.79 back on July 13, the collapse in the stock price of Netflix in the 2 short months since to fresh 52 week lows has been nothing short of breathtaking, and demonstrates just how effectively one can destroy their company (and also confirms that "value investors" with zero conviction in their calls are not even worth the entrance fee of their periodic soiree gatherings). Below we demonstrate who the biggest losers are in the past 10 weeks, based on the top 25 holders as disclosed in their 13F filings as of June 30. Our advice to Apple longs: take particular note of what happens when the hedge fund groupthink hotel decides to exit a burning theater stock in less than orderly fashion. And of particular insult to injury note, UBS Global Asset Management has lost $115 million in NFLX since the stock highs just over 2 months ago. Which Gamma 2 or Vega 666 trader will get blamed for that particular debacle?
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