Icahn sells Netflix, touts Apple as representing “same opportunity”

Carl Icahn

US investor Carl Icahn has sold the last of his shares in Netflix and has recommended investing in Apple. 

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 (€54), 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 tow years ago.