Whitney Tilson Comments on Netflix Change of Heart

Whitney Tilson of T2 Partners, who has been a notable short-seller of Netflix (NASDAQ: NFLX), has recently changed his position on the stock.

The statement he issued can be viewed below:

"It's been frustrating to see our original investment thesis validated, yet not profit from it. It certainly highlights the importance of getting the timing right and maintaining your conviction even when the market moves against you. The core of our short thesis was always Netflix's high valuation. In light of the stock's collapse, we now think it's cheap and today established a small long position. We hope it gets cheaper so we can add to it."