ICAHN SELLS HALF HIS STAKE IN NETFLIX FOR NEARLY $1 BILLION

Maverick investor Carl Icahn may have sold his shares in Lionsgate prematurely, but he’s not going to make that mistake with his shares of Netflix. Saying it was now time “to take some chips off the table,” Icahn has sold more than half his shares in the online video company for almost $1 billion. Shares that he paid $58 a share for nerly a year ago sold for $304-$341 between Oct. 10 and Oct. 22, the period in which he unloaded the stock. His remaining shares are worth about $850 million. In a statement on Tuesday Icah Enterprises said that Netflix stock “remains significantly undervalued” and said that Netflix subscriptions are “one of the great consumer bargains of our time.”