Bill Ackman buys Netflix stake worth $1.1bn after stock sell-off

(California News Times) Hedge fund billionaire Bill Ackman has bought a $ 1.1 billion stake in Netflix in an attempt to take advantage of a sharp sale that has nearly halved the market value of streaming companies in the past few months. Ackman’s investment group, Persing Square, recently purchased 3.1 million shares of Netflix, making it one of the company’s top 20 shareholders. letter To investors.

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