(Bloomberg) -- It's a tough day to be a Netflix bear.
Short-sellers lost $687 million as the shares surged 12 percent after the world's largest paid online TV network post-market earnings report showed it added 7 million new customers in the third quarter, above its own and analysts' forecasts. The stock's 80 percent rally this year has stripped $3.63 billion from short-sellers' accounts, Ihor Dusaniwsky, managing director at financial analytics firm S3 Partners, said in a tweet.
$NFLX up over 12% in after market trading, shorts are down $687 million in after-market mark-to-market losses bringing year-to-date mark-to-market losses to $3.63 billion. pic.twitter.com/nNsh6cLM9B
The stock, the fourth-best performer in the S&P 500 Index this year as of Tuesday's close, will displace network security solutions provider Fortinet as the third-biggest gainer if it opens Wednesday at the level where it's currently trading.
To contact the reporter on this story: Elena Popina in New York at epopina@bloomberg.net
To contact the editors responsible for this story: Courtney Dentch at cdentch1@bloomberg.net, Richard Richtmyer
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