Netflix exit: Carl Icahn is no longer an investor in video streaming service – he reveals on Twitter
Billionaire investor Carl Icahn is no longer an investor in Netflix after selling the last of his remaining shares in the company today.
The outspoken investor had owned around 1.4m shares in the video streaming site through his firm Icahn Enterprises at the end of the last quarter, according to Reuters.
At on point he held an almost 10 per cent stake, one of the largest holdings in the company. He enjoyed an $800m pay day when he sold off some of that in 2013 following 450 per cent gains within 14 months.
He later admitted that he had sold too soon and his son Brett, a manager at his firm and the one who was responsible for the investment, had been right about the stock being undervalued.
He originally bought shares at $58. Yesterday they closed at $681.19 per share and it's the best performing company on the S&P 500 so far this year.
He tweeted that Apple is the new Netflix, currently representing "the same opportunity we stated Netflix offered several years ago.
Sold last of our $NFLX today. Believe $AAPL currently represents same opportunity we stated NFLX offered several years ago.
— Carl Icahn (@Carl_C_Icahn) June 24, 2015
Netflix yesterday said it is carrying out a seven-for-one stock split to attract a wider range of investors, sending shares up more than two per cent in after-hours trading.
It has the fourth highest per-share stock price in the index, behind Berkshire Hathaway, Priceline and AutoZone.