AlphaOne Capital Partners founding partner Dan Niles just started shorting Netflix.
div > div.group > p:first-child"> "Netflix was actually one of our best profit generators last year on the short side. A lot of this is timing... we weren't short on Netflix on Dec. 24. We just put this on very, very recently," Niles said on CNBC's"Squawk on the Street."
"The problem this year is that you've got Apple coming into streaming and you've got other big players like Disney. They are going to have a lot more competition, and don't forget Netflix still burns $3 billion in cash flow every year. And you've got Comcast coming next year and WarnerMedia coming later this year," Niles said.
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