Netflix is one of the most loved and reviled stocks there is, thanks to the meteoric rise of its stock, and the countless naysayers who have been impaled on the spike.
But the shorts — like hedge fund manager Whitney Tilson, along with many, many others — are drawing blood.
The news that cable providers may begin to end the all-you-can-eat gravy train has helped push the stock down 11.4% since its all-time highs made earlier this week.
And now the bears are going to have a huge advocate that regularly appears on TV. Herb Greenberg of CNBC is predicting a 75% collapse in Netflix’s share price in 2011 thanks to a price war (crushed margins). And if Greenberg reports on Netflix like he’s reported on the for-profit education companies, it means he’ll be hitting on this idea over and over in the coming months.
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