Key Points A change in business strategy pushed Ackman to exit Netflix in 2022. Meanwhile, his investment thesis on the stock played out exactly as he predicted. He recently saw another opportunity to buy the stock with greater confidence in his thesis. 10 stocks we like better than Netflix › Back in early 2022, Bill Ackman plowed about $1.25 billion worth of Pershing Square 's (NYSE: PS) capital into Netflix (NASDAQ: NFLX) . In his letter to shareholders, he expressed confidence in the competitive advantages of the streaming video leader and its ability to translate that into strong earnings growth. Just a few weeks later, however, he sold the position entirely, taking a significant loss on the investment.
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