In a Tweet yesterday, Icahn said: “Sold last of our $NFLX today. Believe $AAPL currently represents same opportunity we stated NFLX offered several years ago.”
Icahn invested in Netflix stock three years ago when the SVOD company’s stock was trading at under US$60, buying around 10% of the company’s shares, and has sold several tranches of shares over that period.
Before his latest sale he held about 2.3% of Netflix’s stock, and he is estimated to have made US$2 billion from the sale.
Icahn’s move comes as Netflix announced a seven-for-one stock split, making it possible for a wider spread of investors to buy into the company. The move took NASDAQ-listed Netflix’s stock to US$681.82 at the close of trading on Tuesday.
Icahn has about US$6.8 billion invested in Apple, whose share price has doubled since since he took his first stake in the company two years ago.