Netflix Inc.
(NASDAQ:NFLX) shares are trading higher on Thursday after billionaire investor Bill Ackman returned to the streaming giant with a multimillion-share stake, delivering a high-profile vote of confidence as broader markets trade in risk-on mode.
Ackman’s Pershing Square Capital Management disclosed a 3.15 million-share Netflix position, representing 4.9% of its portfolio.
The renewed bet comes four years after the hedge fund exited the stock in 2022, taking a loss of more than $400 million.
Why Bill Ackman’s Stake Boosts Netflix’s Outlook Pershing Square’s renewed investment signals a sharp reversal from its 2022 exit.
