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Benzinga

Chris Katje

Bill Ackman Buys Large Netflix Stake: Here's Why He's Bullish

Netflix Bill Ackman Pershing Square NFLX Pershing Square Capital Management

Hedge fund investor and Pershing Square Capital Management CEO Bill Ackman announced a new large purchase Wednesday, causing a bump in the share price of streaming giant Netflix Inc (NASDAQ:NFLX).

What Happened: Ackman tweeted that Pershing Square purchased 3.1 million shares of Netflix, which makes the hedge fund a top 20 holder in the company’s shares. The purchase of NFLX shares began on Friday and comes as Netflix shares are down 40% in the past month.

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The Guardian - US

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The Guardian - US

One subscription that gives you access to news from hundreds of sites

Already a member? Sign in here

5 Photos of Leslibeth Anahí García FaríAs: Police Search for Missing Remains After Teen's Killing in Pasaje

5 Photos of Leslibeth Anahí García FaríAs: Police Search for Missing Remains After Teen's Killing in Pasaje

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