Netflix Burns Shorts as ‘Extreme’ Bearishness Ebbs
- Bears are sitting on $996 million in losses, S3 says
- Stock has gained on optimism over ad-supported service
This article is for subscribers only.
Investors who bet against Netflix Inc. in recent months might now be licking their wounds.
Shares of the streaming giant have surged about 50% from their May low, buoyed by the promise of new features to revive growth, better-than-expected quarterly results and the runaway success of the latest installment of sci-fi thriller “Stranger Things.”