Netflix shares exploded 20% after a filing revealed Carl Icahn took a 10% stake in the company.
The shares were temporarily halted. Then they started trading, exploded, and were halted again.
Icahn seems to think Netflix is due for an acquisition.
Speaking with Bloomberg TV, he said, "I think there will be acquirers, it's just a matter of corporate governance."
He then added that CEO Reed Hastings is great, and would certainly want to take care of shareholders.
Icahn also says he likes Netflix's business. He thinks it's well positioned to challenge HBO. He wants it to invest in more original programming.
(Also, he seemed to talk about Netflix's great cash flow, but looking at Netflix's latest earnings report (pdf), the cash flow is pretty weak. We've asked Bloomberg for a transcript of Icahn's call, and will update when we get it.)
Netflix's stock went on an insane run from 2010 to 2011, running from ~$50 to ~$295. It has since crashed back to earth.
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