— The_Real_Fly (@The_Real_Fly) April 20, 2022
Bill Ackman takes $400 million loss on Netflix position.
Bill Ackman, Pershing Square Capital Management founder who less than 3mths ago bought $1.1bn in Netflix stock, has sold his entire stake in comp at major loss of >$430mln. Netflix shares fell 35.1% on Wed, recording their worst day since 2004, after shocking subscriber numbers. pic.twitter.com/C5LuElkSDt
— Holger Zschaepitz (@Schuldensuehner) April 20, 2022
Netflix on Tuesday reported a loss of 200,000 subscribers during the first quarter — its first decline in paid users in more than a decade — and warned of deepening trouble ahead.
Netflix is forecasting a global paid subscriber loss of 2 million for the second quarter. The last time Netflix lost subscribers was October 2011. “Our revenue growth has slowed considerably,” the company wrote.