An investor has pulled $1.1 billion of his cash out of Netflix following a plunge in the streaming service’s share price
A billionaire investor has dramatically pulled his cash out of Netflix following a plunge in the streaming service’s share price.company admitted losing 200,000 global subscribersNow billionaire investor Bill Ackman has liquidated the 3.1 million shares he held in the company just three months after buying them.
And now it says it is parting with the $1.1 billion investment due to Netflix’s ‘unpredictable’ future.Ackman told CNBC’s Scott Wapner on Thursday morning that, ‘I’m 100 percent ready to admit when I’m wrong and 100 percent ready to admit when I’m wrong, quickly’ Bill Ackman, chief executive officer of Pershing Square Capital Management, has had enough of Netflix
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