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Netflix posted strong third-quarter earnings and subscriber growth on October 16, but shares tanked more than 36% over the following two months as the broader tech sector came under pressure. After bottoming at $231.23 in late December, Netflix shares have surged by more than 45%. The company's recent rebound is overreacted in the eyes of short seller Andrew Left. Netflix's market-capitalization gain over the past 12 days equals 12 DreamWorks Animations, 12 Lionsgates, 10 Rokus, or 5 Hulus, Left said.  Watch Netflix trade live. Netflix investors have too much confidence in the stock and lack adequate judgment, the short-seller Andrew Left's Citron Research said Friday.  "NFLX investors at this level as blind as Bird Box," Citron Research wrote in a tweet. The firm said shares would fall back to the $300 level — more than 10% below Netflix's Friday closing price. Bird Box is a Netflix movie that stars Sandra Bullock as a mother who's trying to protect her children after a supernatural force that kills you if you see it wipes out most of humanity. Shares of the video-streaming giant have been on a roller-coaster ride in recent months.  On October 16, the company posted strong third-quarter earnings and subscriber growth, but shares tanked more than 36% over the following two months as the broader tech sector came under pressure. At the time, Bernstein analyst Todd Juenger linked the rising interest-rate environment, which tends to penalize companies, like Netflix, that are short of cash.  After bottoming at $231.23 on December 24, Netflix shares have rebounded by more than 40%. The gains have come after the Federal Reserve said its future rate hikes were not on a preset course. The stock's recent rally is too much, in the eyes of Left. Netflix's market capitalization has soared by $45 billion over the past 12 days, the equivalent of 12 DreamWorks Animations, 12 Lionsgates, 10 Rokus, or 5 Hulus, Citron said.  But Wall Street is bullish on the tech giant. "After six months of stock underperformance & key debates emerging about competition, margins & [free cash flow], we think these debates are better understood by investors and reflected in the current stock price," UBS analysts said on Thursday. The bank has a "neutral" rating and $400 price target. Netflix was up 56% in the past twelve months. Travis Clark contributed to this story. Now read: Netflix analysts answer critical questions about the streaming giant and the future of the industry (NFLX) 'Long-term fundamental trends remain very, very, very much intact': Here's what Wall Street is saying about Netflix's record subscriber growth Join the conversation about this story » NOW WATCH: The equity chief at $6.3 trillion BlackRock weighs in on the trade war, a possible recession, and offers her best investing advice for a tricky 2019 landscape