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Sell Netflix short as US Subscribers Back Off

By Lucian Miers | Saturday 20 July 2019

Disclosure: The author has a short position in one or more of the shares mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Back in May, ten days before the end of that month’s savage sell off on Wall St, I suggested selling a Cannabis Index on the basis that it was likely to lead the market down and lag any gains in the other direction. I am pleased to say that despite the rip-roaring June to-date rally in the US markets, the IG Cannabis Index is now lower than it was at the end of May. It is still an outstanding sell here (the level on the IG Cannabis Index now is 904 but I am sure there are others). Following the same reasoning, I think Netflix (NASDAQ:NFLX) is an excellent short after yesterday’s 11% fall…

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