15 more trading days until debt conversion / dilution is allowed
Netflix has $200 in convertible debt which they used their option to force conversion if the stock trades above $111 for the prior 50 of 65 trading days. We hit that in about 15 trading days. The debt holders are getting the stock for about $85 bucks, so approximately 2.3 million new shares. I would thin the debt holders would offload the stocks immediately after conversion and take their huge profits soon as they can.
This may be the trigger for the break down of the stock back towards the 50 day moving average of $160 or so.