John123
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John123 in Gainers & Losers,

NFLX has become a hedge funds darling in Q3

Top U.S. hedge fund management firms, including Soros Fund Management LLC and Viking Global Investors, placed new bets on Netflix Inc (NFLX) while Tiger Global Management increased its stake in the video streaming company during the third quarter, regulatory filings showed.

Viking bought 4.5 million shares while Tiger Global upped its stake by 15.43 million shares to 18 million. Soros said it owned 317,534 Netflix shares worth $32.79 million as of Sept. 30.

Investors appear to be moving into Netflix as a hedge against the cable television industry, which is facing increasing threats to revenue as consumers switch to streaming services such as Netflix and Hulu, a trend known as "cord cutting."

Netflix is also aggressively expanding in overseas markets. Australia's communications and media authority said on Monday about 3.2 mln adult Australians streamed video content online in the first 6 months of 2015, of which 2.5 mln used Netflix.

Up to Tuesday's close, stock has more than doubled this year.

Technical picture also looks good. NFLX has built a stong base and now is trying to break up. So it might be a good idea to agree with top hedge funds managers and buy the stock.