Right when we report Mark Cuban is buying Netflix on its decline, activist icon Carl Icahn lost $200 million in Netflix overnight last week as reported by Business Insider. Of course, the hype of their headline might be deceptive, since it may not be true that Icahn is in the selling mood right now. However, Netflix did report a disappointing quarter, falling 27 percent after hours. Subscriber growth was less than expected and it guided down on its growth forecast. Other big media players like HBO have announced that they will provide streaming options next year.
Currently, Icahn owns $1.8 million shares of Netflix. He sold some of the stock last October, and now he hold $647 million worth of shares in the company. However, Icahn made some bullish comments on the company. He once said, “It is going to be one of the greats of all time.”