Mark Cuban's Netflix Trade: Down 6.5%

Back in October, Mark Cuban tweeted that he was buying shares of Netflix NFLX. That day, Netflix closed at $449.12. Two days later, Netflix was trading in the $350s, putting Cuban 20 percent out on his position. The tweet has since disappeared.

Following yesterday’s earnings report, Netflix is opening at $410 – 18 percent higher than yesterday’s price, yet still down 6.5 percent from when Cuban announced his long position.

Cuban’s argument was that NFLX could become a takeover candidate, with the company valued less than Yahoo YHOO and Twitter TWTR. During the same time period, Yahoo has gained 23.5 percent on the back of Alibaba BABA, while Twitter has lost 22.5 percent.

Netflix and Twitter’s market caps now are in line with one another.