One of the co-hosts of CNBC’s Shark Tank and charismatic owner of the Dallas Mavericks, Mark Cuban bought 50, 000 shares or a $17 million worth of Netflix on Friday, as reported by CNBC. The stock has been floundering of late, and Cuban thinks it is undervalued. In fact, Cuban thinks its undervaluation is “crazy” given that there is “no limit” to its growth.
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Cuban said Netflix was so cheap, it might be vulnerable to a takeover bid, something he thinks CEO Reed Hastings would not be thrilled about “but there is always a price for everything, ” he added. The company has been masterful at creating original content and growing subscribers. Cuban commented that competitors like HBO and ABC getting into the game can only help Netflix, because potential subscribers to the services offered by these companies will also consider Netflix. “Netflix is the epicenter of content and growth, ” said Cuban.