Institutions, regardless. But, the ones that start dumping it now will win more. Unless they are truly colluding (which the SEC should be aggressively investigating in light of this stock's performance on down days for the market), some institutions are going to do the right thing on a fundamental basis and get out of dodge. Once it starts, the greater fool will be left holding the stock.
Look at the chart around the first week in March, when Japan had its nuclear meltdown. Every stock in the world was down except Nflx, which was up 15 points. This stuff hasn't just started because you started looking at it -- it has been going on for quite some time.