For Carl Icahn, It's Splitsville With Netflix A day after the entertainment company announced a 7-for-1 stock split, the activist investor said he sold his remaining Netflix shares.

By Fred Imbert

This story originally appeared on CNBC

REUTERS | Brendan McDermid

For Carl Icahn, it's splitsville with Netflix. A day after the entertainment company announced a 7-for-1 stock split, the activist investor said he sold his remaining Netflix shares.

"Netflix was a no brainer when we first went into it." Icahn said in a CNBC "Fast Money Halftime" interview. "You couldn't compete with Netflix because they were starting the year with like $2 billion flowing into them, and Reed Hastings did a great job in building it up."

"I think the competition is somewhat easier if you see the secular change going on where they're building service, where they can go over the top, and there's going to be cable competition," Icahn added.

Icahn also said he believes Apple may be in the same position Netflix was, or maybe even in a better one. "I just don't see how … you compete with Apple because of the great ecosystem they've built."

Icahn Enterprises owned approximately 1.4 million Netflix shares at the end of the first quarter, according to Reuters.

Netflix shares dipped shortly after Icahn tweeted the announcement, and were up slightly in midafternoon trading.


The stock split will come in the form of a dividend of six additional shares for each outstanding share, Netflix said. It is payable on July 14 to stock owners of record at the July 2 close. Trading at the post-split price will start July 15.

The move was anticipated this year after Netflix voting shareholders approved a share reauthorization, a preliminary step toward a split.

The company's stock has risen about 100 percent this year and nearly 60 percent in the last 12 months.

—CNBC's Jacob Pramuk contributed to this report.

Fred Imbert is a news associate at CNBC.com.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

Your Old Apple AirPods Can Soon Act as an Over-the-Counter Hearing Aid, According to the FDA

The new software is compatible with the Apple AirPods Pro and accessible through iOS — for free and now FDA-authorized.

Social Media

AI Is Transforming the Workplace — Including Social Media Marketing. Here's How Businesses Can Actually Use It.

Artificial intelligence is transforming social media management for small and medium-sized businesses, helping them enhance scalability, improve cost efficiency and build stronger customer relationships.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business News

'Unprecedented in Our 53-Year History': Southwest Airlines Announces Its First Mass Layoffs Ever

The airline is eliminating 15% of its corporate workforce, including many in senior leadership positions.

Side Hustle

This 30-Year-Old's $6,000-a-Month Side Hustle Started Making Money 'Immediately' — But He's Not Quitting His Day Job

Derrick Mathy works in orthopedic surgical device sales and is on a mission to bring people together in real life.

Business News

Elon Musk's xAI Claims Its New Grok 3 AI Is Better Than ChatGPT and DeepSeek: 'Seeing the Beginnings of Creativity'

xAI debuted the new AI on Monday, claiming it has 10 times the computational power of Grok 2.