This board is so quiet given this historic unlock day that has caused so much speculation.
Its been a fun day to watch and this last 1/2 hour should be enlightening.
My broker is Brown & Co., they say that NFLX is short restricted according to NAZDAQ rules. What�s up with that? I am not looking to go short, and I have 2K shares. Just wondering why the stock would be short restricted.
I am playing it just on movement. I bought today for just the reason you mentioned. If I can make a little tomorrow I will dump.
It finished eratic, but strong. I'll take my chances it will rise tomorrow, as long as no other outside influence rocks the markets.
Have you read my posts on the unlock stats? Netflix looks just like the other IPO's who take a hit on the unlock day and then head higher (JetBlue, Synaptics, NetScreen).
Looks quite "normal" to me...especially since today's "sharp decline" is referenced against yesterday's "sharp increase" you failed to mention!
Do you think its a "positive spin" to say that NetFlix is up 17% vs 1 week ago and have absorbed huge unlock day volume in doing so?
Short interest data for Nasdaq stocks will be released on Wed. Nov. 27.
Lots of posts trying to put a positive spin on today's sharp decline. Not surprising. That's par for the course on this board.
Today's action was not exactly a vote of confidence by big shareholders, that's for sure. Until the short interest in this stock falls out of the stratosphere, expect a lot more volatility. Good one to trade, not to hold "long."
I haven't been able to pay close attention today Jim, but it has been interesting to watch. A volatile morning - holding steady throughout the day and then a slow but steady upward trend that began about an hour and a half ago.
The last half hour here will be very interesting.
I'd say it looks like a relatively small batch of sellers wanted to move some shares, and then it was a bit back to normal. Lots of small trades of 100 shares going through when I took a look.
And I remind myself that for every seller there was a buyer, and an awful lot thought $9+ was a good price to buy at. Establishes a nice support level I would think for the future.
<<And I remind myself that for every seller there was a buyer, and an awful lot thought $9+ was a good price to buy at. Establishes a nice support level I would think for the future>>
Good point! I'm betting very few shorters thought this stock would move 1.8M shares above $9 if you asked them 1 week ago.