Netflix, hehe.

Ok, with Pershing's past track record, who the hell puts their money in that fund now?

People were already weary way back when he duped all those PC Penny suckers.
 
Looks like the SEC up-tick rule is in effect for NetFlix. I didn't even remember getting the notice yesterday.

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CET said:
Ackman gives up on Netflix, taking $400 million loss as shares tumble

(Reuters) -William Ackman's hedge fund Pershing Square Holdings Ltd said on Wednesday that it exited its Netflix Inc investment as the streaming service's stock price plunged and the billionaire investor absorbed more than $400 million in losses on the bet.

The shares tumbled 35% on Wednesday to close at $226.19, just 24 hours after the company announced that it had lost subscribers for the first time in a decade.

Ackman, who had become the company's most prominent backer when he said he bought 3.1 million shares in January, reacted quickly and boldly - selling everything.

"While Netflix's business is fundamentally simple to understand, in light of recent events, we have lost confidence in our ability to predict the company's future prospects with a sufficient degree of certainty," his hedge fund said in a statement.

https://finance.yahoo.com/news/ackmans-pershing-square-sells-netflix-224251151.html
More...


"reacted quickly and boldly" = shit the bed
 
Edmond said:
Why waste time watching TV ?
Read a book, go out for a walk. Anything but watching TV…

I haven’t watched TV since 1967
More...

At least you got to see "I Love Lucy", "Ozzie and Harriet", and "Lassie". Probably "Sky King" and "The Lone Ranger" too.
 
Well, today tech stocks rallied when they were supposed to crash. Though NUTflix happened to be the ONE tech that still fell. This is going to hurt me a little. And yet, I still keep looking to find more trades to impale myself upon.



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