AM Market Movers: Netflix (NFLX)

Netflix (NFLX) shed 6% in early morning trading two days after announcing their pending split into separate brands for DVD-by-mail and streaming video services. Netflix’s stock price – which was trading at nearly $299 in July – has dropped to $135 since then and 22% year to date.

Despite expanding into Canada last year, Netflix has suffered setbacks including pricey negotiations with Hollywood and customer price hikes earlier this year. Here are the top 6 hedge funds losing on Netflix:

1.  John Griffin – Blue Ridge Capital: Lost $45 million

2. Chase Coleman – Tiger Global Management: Lost $41 million

3. Philippe Laffont – Coatue Management: Lost $39 million

4. Curtis Macnguyen – Ivory Capital Investment Management: Lost $37 million

5. Stephen Mandel – Lone Pine Capital: Lost $27 million

6. John Thaler – Jat Capital Management: Lost $21 million

You can see the other funds to lose value here. These calculations assumed that these hedge funds did not increase or reduce their stock positions in Netflix since the end of June. We did not take into account their option positions.