Netflix Inc (NFLX) share prices plummeted over 21% on Monday after the movie rental provider reported that it lost more than 800,000 subscribers in in the third quarter and warned that profits and revenue will be lower than estimated reports the Wall Street Journal. Share prices fell in after hours trading from $118.84 when the market closed Monday to $93.80 at 4:29pm EST.
The following hedge funds lost the most:
1. Blue Ridge Capital – John Griffin: Lost $27.9 million
2. Tiger Global Management Llc – Chase Coleman: Lost $25.8 million
3. Coatue Management – Philippe Laffont: $23.7 million
4. Ivory Capital (Investment Mgmt) – Curtis Macnguyen: Lost $22.7 million
5. Lone Pine Capital – Stephen Mandel: Lost$16 million
6. Jat Capital Management – John Thaler: Lost $11.7 million
7. Cavalry Asset Management – John Hurley: Lost $8.3 million
8. D E Shaw – D. E. Shaw: Lost $7.9 million
DISCLAIMER: These calculations assume that these hedge funds did not increase or reduce their stock positions in NFLX since the end of June. We did not take into account their option positions.