Tuesday, August 3, 2021

ICAHN TO NETFLIX’S RESCUE?

November 1, 2012 by · Leave a Comment 

Hoping that Carl Icahn will live up to his reputation for buying into distressed companies, turning them around, and then selling them for a big profit, investors sent Netflix’s shares soaring on Wednesday after it was reported that Icahn had acquired a 10-percent stake in the video rental company. Shares jumped 13.9 percent on the news and continued advancing this morning (Thursday). Icahn said that he regarded Netflix shares as undervalued and could hold “significant strategic value for a variety of significantly larger companies.” Shares in Netflix have plummeted from a high last year of $295 to around $57 in October.