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A notorious short-seller pulls back on its bet against Netflix, saying international traction could boost the stock 20%

A notorious short-seller pulls back on its bet against Netflix, saying international traction could boost the stock 20%
Netflix



Andrew Left, the notorious short-seller who runs Citron Research, is pulling back on his bet against Netflix.




Citron tweeted on Thursday that new data suggest international traction will boost the stock by 20% to $350 per share.




Traders betting against Netflix lost $287 million in a single day in mid-October after shares surged 11% on strong earnings.




Watch Netflix trade live on Markets Insider.




A notorious short-seller is paring back a bet against Netflix, one of the most-shorted stocks on the US stock market.
Citron Research, which is run by Andrew Left, announced in a tweet on Thursday that its changing its bearish position on Netflix based on new data around international subscribers.
"After years of making "Elite" short calls on $NFLX Citron is going "Dark," the firm wrote in a tweet on Thursday. "New data shows Intl traction might be "The Mechanism" to take the stock back to $350. Long $NFLX into next Q is the real "Money Heist."
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