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Bill Ackman dumps hedge fund’s stake in Netflix
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Billionaire investor William Ackman said his hedge fund sold its stake in Netflix on 20 April, implying a loss of about $400m, as the shares recorded their biggest one-day drop since 2004.
Ackman said his fund Pershing Square has “lost confidence in our ability to predict the company’s future prospects.”
He said he sought to “act promptly”...
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