Carl Icahn Buys 5.5M Netflix Shares

Looking at Mr. Icahn's track record, I'm betting he calls for Reed Hastings to step down within a month.

Billionaire investor Carl Icahn has seized on Netflix's recent troubles to build a 10 percent stake in the Internet video service. Wednesday's disclosure about Icahn's stake in Netflix Inc. caused the company's stock price to surge by 16 percent in late afternoon trading. Icahn's filing with regulators didn't specify why he decided to buy 5.5 million Netflix shares.

Comments