Netflix: shares down after Citron recommends shorting
(CercleFinance.com) - Shares of video streaming giant Netflix fell on Tuesday after short-seller Citron Research questioned the company's business model.
Netflix shares, which have soared about 68% this year, are currently down 0.1% at 321.1 dollars on the Nasdaq after Citron said "stranger things" are happening with the company.
"Content spending is unsustainable long term," Citron said in its report.
Citron said the stock can be shorted back to the 300-dollar zone.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Netflix shares, which have soared about 68% this year, are currently down 0.1% at 321.1 dollars on the Nasdaq after Citron said "stranger things" are happening with the company.
"Content spending is unsustainable long term," Citron said in its report.
Citron said the stock can be shorted back to the 300-dollar zone.
Copyright (c) 2018 CercleFinance.com. All rights reserved.