Celebrity Investor Stories

Carl Icahn and Netflix

Carl Icahn covalue

In October 2012 a crucial error in judgement caused the downfall in the price of Netflix’s share, plummeting from $300 to $58 per share. Carl Icahn saw the opportunity and acquired 10% of Netflix shares for $321 million, since he believed in the future of streaming television.

Carl also perceived the critical role that Netflix would have in the development and disruption of the video rental industry. Carl Icahn exited Netflix in 2015 given his apprehensions with regards to growing competition in this realm and his desire to maintain profits, which amounted to $2 billion at the time.

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About the author

Rattan Joneja

Rattan Joneja

CEO & Founder at CoValue Technologies.
Empowering Investors and Business to Create Wealth.

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