The Netflix Papers They come from collapsing about 50% from its maximum price. The main cause was due to the fact that in the presentation of the quarterly balance, the number of subscribers had stagnated and did not meet market expectations. That led to a price collapse of more than 20% in a single day.
It was then that Bill Ackman of Pershing Square Capital Management entered the picture. The legendary investor bought a lucrative package of shares. “During the past few days, we purchased more than 3.1 million shares of $NFLXmaking us one of the company’s top 20 shareholders,” he said in a statement.
The volume traded on Cedears during the day rose 44% to $4,745 million, which represented 74% of that traded in equities. While $1,656 million in local shares were traded.
For its part, the main indices on Wall Street closed higher for the third consecutive day. The S&P 500 rose 0.6%, while the Dow Jones rose 0.7% and the Nasdaq rose 0.7%.
Following data from the Department of Labor and the Purchasing Managers’ Index (PMI) from the ISM, the market gained strength as the wheel progressed and closed higher. A benchmark for energy companies closed at an all-time high. It should be noted that the S&P 500 and the Nasdaq had their worst monthly performance in January since March 2020.
Source: Ambito
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