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Why Bill Ackman is taking a stake in Netflix
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Billionaire investor William Ackman said his hedge fund has acquired 3.1 million shares of Netflix, attracted by a recent selloff of the streaming giant’s stock.
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...
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