Netflix Chief Executive Reed Hastings has publicly asked a hedge fund manager to stop placing bets against his company, reports Bloomberg News.
Hastings wrote a posting on the Seeking Alpha Website responding to a report by Whitney Tilson, a co-founder of T2 Partners LLC, which was published on the same site last week, the story notes.
Tilson had written that Netflix was his biggest bearish bet and that he would stick with his position, comprising options and short sales, even though Netflix’s stock has more than doubled this year, causing him to lose money.
‘ “It is possible that one could make money shorting Netflix today,’ Hastings wrote. ‘But shorting a market-leading firm as it is driving a huge new market is a very gutsy call.’ "