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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
Updated on

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.”