Bill Ackman builds new Netflix stake as stock sits 42% below highs

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โดย TheStreet·US·Read original
Summary · why it matters

Bill Ackman's Pershing Square Capital Management has built a new position in Netflix, buying 3.15 million shares that now account for 4.9% of the hedge fund's portfolio. The move comes with Netflix stock down 42% from its all-time highs, and follows Ackman's earlier 2022 purchase and quick sale at a loss of more than $400 million. In its mid-2026 investor letter, Pershing Square wrote that Netflix has effectively won the streaming wars, citing more than 325 million paid subscribers worldwide. Netflix reported second-quarter sales of $12.4 billion, up 13.2% year over year, with gross margin climbing to almost 52% and operating margin at 33.4%. The company repurchased $9.9 billion of its own shares over the last twelve months, including a record $4.7 billion in the second quarter, and consensus data projects free cash flow of $22 billion by 2030.

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