Mark Cuban Adds to Netflix Position

In a CNBC interview today, Mark Cuban said he is adding to his Netflic

position on the recent weakness, feeling that the company is undervalued at these levels. Mr. Cuban added 50,000 shares after the recent earnings announcement, adding to his existing long position which previously was comprised of short put options. Mr. Cuban went on to say he thought Netflix could be a potential takeover target at these levels, which caused the shares to spike nearly 10 points following that comment. He also feels the recent entry by CBS and HBO into the streaming market will be a plus for Netflix, as these companies bring a new customer base into the sector. Shares of NFLX are currently trading down 2.59 percent at 352.37.