Why Netflix Stock Surged Higher on Thursday

Danny Vena, The Motley Fool

January 27, 2022 at 4:00 p.m.·2 min read

Why Netflix Stock Surged Higher on Thursday

Shares of Netflix (NASDAQ: NFLX) bucked the broader market downturn on Thursday, surging as much as 9.8%. Pershing Square Capital Management, run by billionaire investor Bill Ackman, announced yesterday that the hedge fund had been purchasing Netflix stock hand over fist, amassing more than 3.1 million shares over the past week and making Pershing a "top-20 shareholder." Ackman cited an attractive valuation due to the recent "substantial stock price decline [that] was further exacerbated by recent market volatility."

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