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IPFS News Link • Stock Market

Ackman Buys 3.1 Million Netflix Shares With $1.25 Billion Profit From Massive Treasury Short

• by Tyler Durden

Microsoft's acquisition of a deeply discounted Activision and more recently, last week's acquisition of Kohl's by a consortium of buyers.

But it's not just strategics that are finding good deals: financial buyers are also jumping in, as a tweet from Bill Ackman late on Wednesday showed.

The billionaire investor behind Pershing Square announced on twitter that "beginning on Friday and over the last several days, we acquired more than 3.1 million shares of Netflix... which makes us a top-20 holder." Ackman, who also linked to a letter to investors laying out his thinking and math behind the purchase, said that "I have long admired Reed Hastings and the remarkable company he and his team have built. We are delighted that the market has presented us with this opportunity."