Netflix sinks after saying its going to issue $1.5 billion of junk bonds (NFLX)

Shares of Netflix sank more than 3% Monday after the company announced a new $1.5 billion debt offering.
This latest round of junk bond offerings will add to Netflix's total accrued debt of $6.5 billion disclosed on its latest quarterly filing last week. The company is seeking yields between 5.75% and 6%, Bloomberg News reported.
Netflix is stuck in a growing battle between bulls and bears.On one hand, cynics like Michael Pachter of Wedbush Securities say the ongoing cash burn could ultimately h