Netflix (NFLX) Shares Dip After This False Rumor

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Netflix shares saw big gains last Friday when a rumor emerged that Alibaba (NYSE: BABA) would be investing in the company.

The rumor was quashed and subsequently sent Netflix shares down on Monday, giving back some of Friday’s gains. The stock had opened at $93.77 on Friday morning and closed at $97.03 on heavy trading volume.

According to Spokesman Bob Christie, who told Reuters late Friday, Alibaba is not making an investment in Netflix.

Netflix shares are down nearly 23 percent in the past year.

Disclaimer: We have no position in Netflix Inc. (NASDAQ: NFLX) and have not been compensated for this article.

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