Icahn Sells His 5.5% Stake in Netflix

NetflixIn a regulatory filing, Carl Icahn, an American businessman, has affirmed that he has sold 5.5% of his stake in Netflix.

In October 2012, Icahn had bought a 10% stake in the company. But almost after a year, Icahn has sold more than 50% of his stake. The news has led the shares of Netflix to decline by more than 2%.

It has been unveiled that when Icahn sold the shares, he thanked Netflix executives and staffers. But, their terms were not so cordial when Icahn has purchased the stake in 2012.

Icahn is known for putting his 100% in the work in which he takes interest in. Not only this, he is also known for exerting his will on the companies in which he shows interest.

Same thing happened at the time when he purchased shares in Netflix. At that time, he had affirmed that the deal can prove quite beneficial. He even affirmed that Netflix is a good company to take over.

Experts were of the view that Icahn has made sizeable gains in the company and then has sold his stake in the company. To talk about the condition of Netflix in the market, its shares have fallen by 2.3%, which amounts to $315.