Netflix stock jumps 4% as Bill Ackman returns with a new stake
Netflix NFLX stock rose more than 4% on Thursday after billionaire investor Bill Ackman's Pershing Square Capital Management disclosed a new stake in the streaming giant, marking a return to the company more than four years after exiting its previous investment at a loss. In its second-quarter shareholder letter, Pershing Square revealed it had acquired a 4.9% portfolio stake in Netflix. The hedge fund, known for running a concentrated portfolio of fewer than a dozen holdings, said it believes the streaming company is well-positioned for long-term...