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. Ackman never stopped following the company, though. Earlier this year, he bought a new position in Netflix worth about $1 billion. Here's what pushed Ackman out of the stock the first time and why he thinks it's worth buying now. Missed Nvidia in 2009? This Rare Signal Is Flashing Again.
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