Supreme Netflix Stock Price Drops 35%, Posting Biggest Fall Since 2004

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Netflix Inc. shares fell 35.1% on Wednesday, recording their worst day since 2004, after the streaming giant reported that it lost subscribers in the first quarter.

William Ackman, the billionaire investor whose fund bought more than three million shares of Netflix in January, said Wednesday that the fund had sold its stake at a loss. In a letter to investors, Mr. Ackman said Netflix would reduce returns at the fund, Pershing Square, by four percentage points. That implies a loss of around $400 million.

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Tyy

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tyy

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go woke go broke lmao

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Netflix Inc. shares fell 35.1% on Wednesday, recording their worst day since 2004, after the streaming giant reported that it lost subscribers in the first quarter.

William Ackman, the billionaire investor whose fund bought more than three million shares of Netflix in January, said Wednesday that the fund had sold its stake at a loss. In a letter to investors, Mr. Ackman said Netflix would reduce returns at the fund, Pershing Square, by four percentage points. That implies a loss of around $400 million.

What's the reason behind this sir?

 

                                                      
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Netflix faces intense competition from services such as Amazon, Apple, Disney And others

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Netflix Inc. shares fell 35.1% on Wednesday, recording their worst day since 2004, after the streaming giant reported that it lost subscribers in the first quarter.

William Ackman, the billionaire investor whose fund bought more than three million shares of Netflix in January, said Wednesday that the fund had sold its stake at a loss. In a letter to investors, Mr. Ackman said Netflix would reduce returns at the fund, Pershing Square, by four percentage points. That implies a loss of around $400 million.

kkk :weebsout: