Netflix (NFLX) and the Streaming Wars Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Netflix (NFLX) and the Streaming Wars

NFLX 1,100

-1.7%

9:30 AM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Sr K	1/26/2022 7:11:28 PM
	1 Recommendation Recommended By Glenn Petersen of 2280

William Ackman’s Hedge Fund Takes Stake in Netflix Pershing Square has purchased more than 3.1 million shares of the streaming service William Ackman said he has ‘long admired’ Netflix founder Reed Hastings.PHOTO: BRENDAN MCDERMID/REUTERS By Denny Jacob Follow Updated Jan. 26, 2022 6:31 pm ET Billionaire investor William Ackman said his hedge fund has acquired 3.1 million shares of Netflix Inc., NFLX -1.83% attracted by the recent stock sell-off. Pershing Square, the fund, said it acquired a stake in Netflix due to a combination of investors’ negative reaction to the streaming company’s subscriber growth in the fourth quarter and recent market volatility. “I have long admired Reed Hastings and the remarkable company he and his team have built. We are delighted that the market has presented us with this opportunity,” Mr. Ackman said in a tweet. Pershing Square’s stake equals roughly 0.68% of the Los Gatos, Calif.-based company, based on roughly 455.8 million diluted shares outstanding at Dec. 31. Netflix declined to comment. Shares of Netflix were ahead about 4% in after-hours trading on Wednesday. Through the session’s close, the stock was down roughly 40% for the year. It closed Wednesday at $359.70, compared with a high of $691.69 on Nov. 17. The company said last week that it missed its subscriber estimate for the fourth quarter, adding 8.3 million subscribers, short of the projected 8.5 million. It also said it expects to add a much smaller number of subscribers this quarter than it did a year ago as it contends with a crowded streaming marketplace and ongoing disruptions from the Covid-19 pandemic. Earlier this month, Netflix also raised the price for its monthly plans for customers in the U.S. and Canada, the first such increase since 2020. Exc.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next