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Asset of the Day | Jan. 27, 2022

Netflix - a leading streaming service company with 222 million members, has been gaining traction recently after losing over 20% in their stock price over a day and almost 50% from their recent ATH.

The current price is similar to the share price the company had in 2019.

Billy Ackman, the CEO of the hedge fund Pershing Square Capital Management bought 3 million shares of Netflix after the recent sell-off.

Netflix - with a 7% share of total TV viewing time in the U.S, and even though they missed their Q4 subscriber estimate, added 8.3 million customers in Q4, slightly less than the 8.5 million its management had forecast three months ago.

The company still produces a great product to their clients in an industry that is constantly growing.

Netflix had the most Emmy and Oscar nominations and wins of any studio out there.

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