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2022-01-30

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Netflix Co-CEO Buys $20M of Streaming Firm’s Beleaguered Stock in Apparent Vote of Confidence

Netflix co-CEO Reed Hastings bought $20M of his streaming company’s stock in recent days in an appar

Netflix Co-CEO Buys $20M of Streaming Firm’s Beleaguered Stock in Apparent Vote of Confidence

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Ackman said his fund bought more than 3.1M shares to become one of the streaming firm’s 20 largest shareholders.</p><p>However, Seeking Alpha columnists have mixed views as to where Netflix (NFLX) goes from here. 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NFLX said it gained just 8.28M net subscribers worldwide, whereas analysts had anticipated 8.32M net new users and the company had previously guided to 8.5M.The miss sparked a multi-session slide for NFLX stock that included a 22% selloff on Jan. 21. Investors apparently viewed the results as a sign of growing competition from rival streaming services such as Disney+ from Walt Disney Co. , Amazon Prime from Amazon  and Paramount+ from Viacom CBS .However, Hastings isn’t the only business titan who’s betting that Netflix (NFLX) will eventually recover.The stock partly rebounded on Thursday and Friday after billionaire Bill Ackman announced that his Pershing Square Holdings hedge fund (OTCPK:PSHZF) used the recent selloff to invest in NFLX for the first time. Ackman said his fund bought more than 3.1M shares to become one of the streaming firm’s 20 largest shareholders.However, Seeking Alpha columnists have mixed views as to where Netflix (NFLX) goes from here. 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Netflix Co-CEO Buys $20M of Streaming Firm’s Beleaguered Stock in Apparent Vote of Confidence

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