Bill Ackman recently bought 3.1m shares of Netflix, becoming a top 20 shareholder. They are slightly underwater at this level but unlikely to panic sell. They believe the Netflix dream and will continue to hold.

We could see weakness down as low as $270, shaking out the weak hands, but if would be silly to think that the Netflix engineers cannot update their code to counter the crazy amount of account sharing.

Even just a password reset to mess up all the non paying users.

You'd have to think Netflix is here to stay and with over 214 million paying subscribers, you'd think this short term sell off will become a bargain soon.

I don't like to buy massive sell-offs, but I'll share this as a trading idea. Remember to be cautious on this as selling could continue in the short term.

Netflix's 214 million PAID subscribers to save the day

Apr 20 2022

Stop Loss -23.75%

Holding time 0hr

320.00

Entry price

244.00

Stop loss price

1