This page has been archived and commenting is disabled.

Carl Icahn Covers 3 Million NFLX Shares On 457% Gain

Tyler Durden's picture




 

Just as we wondered earlier in the day...

 

 

 

What is perhaps most worrisome for the market is the sale of 2.99 million shares collapsed the market cap by around 20%...

Our guess is that there is no way Icahn announced this without protecting the rest of his position... so expect volatility to get a little crazy as the OTC positions begin to be unwound and more of his position unwound...

 

Of course, he hedges his sell...

  • ICAHN SAYS NETFLIX REMAINS `SIGNIFICANTLY UNDERVALUED'
  • NETFLIX HOLDER ICAHN REPORTS SALE OF 2.99M SHRS
  • ICAHN CITES 457% NFLX SHR PRICE BOOST SINCE ORIGINAL INVESTMENT

Of course it's "undervalued" - he still has millions more shares to sell to hapless bagholders. Such as the algo that bought NFLX at $390 24 hours ago, to which all we have to say is: 0100101001110101011100110111010000100000010000100101010001000110010000010101010001001000

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 10/22/2013 - 17:27 | 4080887 HedgeAccordingly
HedgeAccordingly's picture

He should play at poker night on BBG lol. - http://hedge.ly/178ibZ0 Billion $ profit 

Tue, 10/22/2013 - 17:39 | 4080899 Divided States ...
Divided States of America's picture

mother fuckin spotted hyena Carl I CAN ICahn says thank you on his twitter account to all the suckers who he offload to...this zionist fuck just keeps making more money without doing jack shit except tweeting.

You know someone was offloading when the stock was up like 25 bucks and then was down 15 in a blink of an eye. Fuckin joke.

The fucker also probably bought put options today to hedge his remaining long position....so its WIN WIN WIN again for I CAN CAN CAN.

Tue, 10/22/2013 - 17:43 | 4080937 greatbeard
greatbeard's picture

>> making more money without doing jack shit

Wait a minute, these are the producers and jobs creators.  Heaven forbid someone should levy a "hate" tax on them. 

Tue, 10/22/2013 - 17:53 | 4080956 Cult_of_Reason
Cult_of_Reason's picture

Oligarch-plutocrat Icahn forgot to thank Bernanke.

 

Addendum:

I forgot, the plutocrat has already thanked Bernanke.

http://www.zerohedge.com/news/2013-09-24/carl-icahn-long-ben-bernanke

 

Tue, 10/22/2013 - 18:02 | 4080991 CClarity
CClarity's picture

Algos to infinity!   Math is the new black.  Everyone should wear a formula (and bribe their politicians and Central Bankers)

Tue, 10/22/2013 - 18:06 | 4081013 TruthInSunshine
TruthInSunshine's picture

A lot more people will be watching day time, week day movies & shows soon -

Record 90,609,000 Americans Not In Labor Force, Employment Among Women Hits 24-year Low, Economy ‘stalling’

http://investmentwatchblog.com/record-90609000-americans-not-in-labor-fo...

Forward!

Tue, 10/22/2013 - 18:58 | 4081153 Say What Again
Say What Again's picture

Gee, do you think the asshole engineered the move from $350 (VWAP) to $394 yesterday, so he had a higher level to unload his shit.  Most of his shares went off this morning at a VWAP of about $360.  Just look at the volume on an intra-day chart and compute the VWAP for the period when there was real action - 9:30 to 11:00 EST.

This guy is disgusting. 

Tue, 10/22/2013 - 19:42 | 4081257 Zer0head
Zer0head's picture

@HedgeAccordingly

 

downvote for promoting anything to do with the CNBSization of Bloomberg, albeit they are pathetic

WTF poker nite with scumfucking leaches

Tue, 10/22/2013 - 20:53 | 4081396 MeelionDollerBogus
MeelionDollerBogus's picture

pffft we can PRINT MOAR jobz!

Tue, 10/22/2013 - 18:08 | 4081021 Cult_of_Reason
Cult_of_Reason's picture

A Freudian slip?

"Wish to thank Reed Hastings, Ted Sarandos, NFLX team, and last but not least Kevin Henry"

Tue, 10/22/2013 - 19:17 | 4081203 max2205
max2205's picture

#Icann: Thought I'd let you know I dumped 3 million share, thanks suckaz

Tue, 10/22/2013 - 17:31 | 4080898 JmanSilver.Gold
JmanSilver.Gold's picture

Im sure all his NETFRAUD deals were 100% above board, Im sure that I-CON didnt buy any NETFRAUD shares on insider trading tips from Hastings, and Im certain that the whole NFLX ponzi run-up had nothing to do with bernanke and the frauderal preserve.

All honest trading, period.

Does NETFRAUD still have that $6.5 billion debt 'off balance sheet'?

Tue, 10/22/2013 - 17:34 | 4080905 Tijuana Donkey Show
Tijuana Donkey Show's picture

Who doesn't? Hell, I moved all of my liabilities out to a holding company, and I feel better already! The odd thing is my creditors and such don't accept the arrangement, even when I cite my holding company. 

Tue, 10/22/2013 - 19:34 | 4081242 Dr Benway
Dr Benway's picture

Ah you're obviously not part of the club then

Tue, 10/22/2013 - 17:33 | 4080903 kaiserhoff
kaiserhoff's picture

Missed the back story on this.

Unless he sells to the company, why does that affect the market cap?

Tue, 10/22/2013 - 17:40 | 4080923 Au_Ag_CuPbCu
Au_Ag_CuPbCu's picture

The share price dictates market cap.  Along with # of shares outstanding.

Tue, 10/22/2013 - 17:39 | 4080925 kaiserhoff
kaiserhoff's picture

Tyler added the chart.

  One hell of a slide.  Whooopeee.

Tue, 10/22/2013 - 17:34 | 4080904 Saucy-Jack
Saucy-Jack's picture

To all the new owners of NFLX: play stupid games, win stupid prizes!!

Tue, 10/22/2013 - 17:37 | 4080907 Theta_Burn
Theta_Burn's picture

The only thing that screams "buy" more than this cover, is another qtrly miss.....

Tue, 10/22/2013 - 17:37 | 4080919 Rainman
Rainman's picture

Solid move.....now he  should wheel the proceeds and short the shit out of this sucker. It's not likely anybody is watching. Just do it !

Tue, 10/22/2013 - 17:37 | 4080920 q99x2
q99x2's picture

I could use a good dose of MillionDollarBonus at this point.

Tue, 10/22/2013 - 18:16 | 4081048 dick cheneys ghost
dick cheneys ghost's picture

~~or francis_sawyer~~

Tue, 10/22/2013 - 17:40 | 4080927 Killer the Buzzard
Killer the Buzzard's picture

I wonder if he's gonna tweet how much money he made on his puts...

Tue, 10/22/2013 - 17:40 | 4080929 Big Brother
Big Brother's picture

"0100101001110101011100110111010000100000010000100101010001000110010000010101010001001000"

Is that "18003825968" in binary?

Tue, 10/22/2013 - 17:48 | 4080953 NotApplicable
Tue, 10/22/2013 - 17:52 | 4080962 The Gooch
The Gooch's picture

Periodic table with a center piece of mind.

http://www.youtube.com/watch?v=dFSm9vfwtNw

 

Tue, 10/22/2013 - 18:04 | 4081005 CClarity
CClarity's picture

Tricky big data code.

Tue, 10/22/2013 - 17:43 | 4080939 Everybodys All ...
Everybodys All American's picture

I looked at the put options yesterday and decided they were too richly priced. Premiums were through the roof. You know damn well he made a ton of money selling his options today as well and I'd guarantee he ran that stock up yesterday with every intention of selling into it today.

Tue, 10/22/2013 - 20:28 | 4081345 MeelionDollerBogus
MeelionDollerBogus's picture

yup. Not unplayable with a good guess at time & a level of a drop but

NFLX P 22MAR14 220.00

100 out of the money, sitting at 7.55 to get in. As fucking if.

Given the hefty prices & volatility going the wrong way with the rigging, and Icahn IS rigging it how he pleases, who would dare get less time & lose it all? At least with SOME time you could take a little profit later on.

Even that little one up there, wait 6 months & lose 50 from the share price and it's no gain at all.

I think I'd go with agq calls or maybe even TSLA puts may or may not have a shot given the giant rise.

Then again I think NFLX is garbage given all the much newer things you can get with free torrents. Why anyone would waste money on netflix service... can't imagine.

Tue, 10/22/2013 - 17:46 | 4080947 GrinandBearit
GrinandBearit's picture

I-CON is a criminal.  A total POS.

Tue, 10/22/2013 - 17:49 | 4080952 Seasmoke
Seasmoke's picture

Wait I just bought 1000 shares yesterday@ $390 because Carl was invested. I'm glad he still thinks they are undervalued. I would have felt like a fool. 

Tue, 10/22/2013 - 17:52 | 4080964 SpeakerFTD
SpeakerFTD's picture

I wish to thank Ben Bernanke,  Ben Shalom Bernanke, Helicopter Ben and last but not least,  Mr. Hewlett and Mr. Packard.

Tue, 10/22/2013 - 17:57 | 4080974 Everybodys All ...
Everybodys All American's picture

+ 2.99 million share x roughly $350.00 per share = a lot of iCons to come. I truly despise this mf'er.

Tue, 10/22/2013 - 17:54 | 4080970 SpeakerFTD
SpeakerFTD's picture

Carl Icahn

Warren Buffett

The bigger criminal?

Tue, 10/22/2013 - 18:02 | 4080993 JR
JR's picture

The true definition of an insider is an individual whose activity with the rulers cannot be viewed from the outside. This fits Carl Icahn to a “T.” And it brings to mind Ron Paul’s flat appraisal that Fed money is a flow undetectable by outsiders. So what is wrong with a demand for more transparency concerning the activity of the public equity markets and the major players and from whence their “source” flows?

Ron Paul: “If it comes to true transparency, like allowing an audit of the Federal Reserve, and letting us know who they bail out and when they bail out and what they did in ’09 with their trillions of dollars, and all the international transactions, there’s no way that’s going to be permissible. Because that’s where all the power and control is accomplished: it’s behind the scenes with the Fed on international transactions.”

http://www.zerohedge.com/news/2013-10-19/ron-paul-knows-longer-qe-lasts-worse-it-will-end

Tue, 10/22/2013 - 18:02 | 4080997 buzzsaw99
buzzsaw99's picture

from thestreet.com: Netflix (NFLX_) CEO Reed Hastings is back to unloading millions of dollars' worth of NFLX stock. This does not come as a surprise. Netflix told us it was coming in its January 23, 2013 letter to shareholders: Starting in July, Reed has some 10-year employee options expiring every month, and he plans to sell upon forced-exercise. He has no other sales planned. Some. I love it. Try 15,238 shares underlying options for the June 24 transaction. I guess words such as "some" are merely relative terms to guys like Reed Hastings. While Hastings took a one-year hiatus from selling stock, other executives did not.... You can review a complete history of NFLX insider sales at the SEC's Website...

Don't worry about Hastings et al. They got plenty.

Tue, 10/22/2013 - 19:22 | 4081210 max2205
max2205's picture

Nflx buy share buy back might be on hold

This should be a day traders dream for the next couple of months

Tue, 10/22/2013 - 18:04 | 4081008 Goldilocks
Goldilocks's picture

Evanescence- Lacrymosa Lyrics on Screen
http://www.youtube.com/watch?v=1yyJG9uIm_M (3:38)

Tue, 10/22/2013 - 18:13 | 4081038 Hicham
Hicham's picture

Zerohedge has been bashing nflx for years and it has gone up constistently. It doesn't really take much insight to constantly predict doom for years until inevitable price drops occur...

Tue, 10/22/2013 - 19:33 | 4081237 Dr Benway
Dr Benway's picture

There was a dude warning about Madoff for twenty years, while noone listened and the ponzi kept growing. Was he wrong too?

Tue, 10/22/2013 - 18:56 | 4081147 WallowaMountainMan
WallowaMountainMan's picture

fools believe that when they look at the price of the stock, they can multiply that number times the number of shares they have and that is what they have in the bank.

 

:)

Tue, 10/22/2013 - 19:40 | 4081231 Dr Benway
Dr Benway's picture

Yes but the common garden variety fool is in good company in that regard.

The fund managers, the regulators, the government all assume that because of the magic of market efficiency, assets are automatically fairly valued. And this regardless of how much the market is manipulated.

It's kinda strange. We force the market up with money printed out of thin air, destroying the market, then we pretend the ramped prices are "market prices" and indicative of value.

Also, prices are assumed to be "market prices" even if a handful of holders hold 95% or more of the company. This is great for fund managers, as they can ramp these shares and then claim great performance based on unrealized gains.

Tue, 10/22/2013 - 19:06 | 4081172 Diogenes
Diogenes's picture

Selling 2.99 million shares drops stock by 20%.

Day's volume 25.8 million

But we already know 70% of vol is algos so real volume is 7.74 million shares

So he really sold 40% of today's volume. No wonder the price went to hell.

Next question, why would he hammer it? Why didn't he feed the stock into the market over several days?

Could it be that he figured if the market found out he was selling size everyone would pile in and he would get an even worse price?

Or does he want to liquidate quickly because he thinks there isn't much time before the whole shithouse blows up?

Or maybe that was a "small" order compared to what he is going to sell over the next few days or weeks?

Tue, 10/22/2013 - 19:35 | 4081239 max2205
max2205's picture

The way it's done: Icahn tells someone like GS he wants to sell...like last week. They agree on a price...say 350 on Tuesday (today).

Last week GS (or whomever) runs the stock up as high as it can, 390.

Now they put on the hedge, shorting as much as possible and selling stock that ICANN will deliver today.

Plus fees GS gets 5% plus the hedge shorting and selling from 380 to 390
Down to today's or Wednesday close. Now at least 80 points times 3 million shares

5% fee $50 mill plus 24 mill trading hedge... All on insider dealer information we don't have.

Not bad for a weeks work... Now you know why GS ECT make so much in pay

Tue, 10/22/2013 - 20:07 | 4081308 Constitutional ...
Constitutional Republic's picture

iCon the asset stripper who made his money with insider connections has a get out of jail free card: his dual nationality.

Do not do business with this thief. Buy him a one way ticket to Israel or Switzerland.

Tue, 10/22/2013 - 20:32 | 4081309 Randoom Thought
Randoom Thought's picture

One might think that Icahn is a great investor by seeing opportunity and profiting from it or one might think that he is a crook that manipulates the price of companies though illegal and unethical means to personally profit. However, I suggest that he is neither of these. It is my belief that he is a tool of insider/elitist policy used to polarize people and manipulate perceptions.

Think of the things that have come into our mind as a result of the ZH article about Icahn's actions. Those are the things you have been programmed to think and it is expected that you will have a predictable response... be it to sell NFLX, buy the dip, get angry, become jealous or whatever. There will be a mixture of responses which will propagate the dialectic unabated ... and so we are easy to control.

In my view, this is also just another head-fake shake and bake ... full of sound and fury, signifying nothing.

Tue, 10/22/2013 - 22:00 | 4081547 tarsubil
tarsubil's picture

Where do I sign up for the billion dollar head-fake? I'm up for it.

Tue, 10/22/2013 - 22:13 | 4081577 Teddy Tenpole
Teddy Tenpole's picture

 

 

Hey Carl, you dispicable Joo Banker Cunt!  I used to deal with some folks up the Main Line and over Wilmington way and I never understood why a couple of the old guys would always warn me about the, "money changers", and the "New York Jews"?

Now I get it, those oldtimers actually risked their capital, built things, and employed people in their hometowns.

You and your kind just play the 3 Card Monte and the Ponzi.  I hope you fuckin rot in hell you cunt.  You never put a cent back into this country.  You are a clever one though and are scurrying off with your little piece of rat cheese.

The Big Rats are coming around aren't they Carl.  Haha, bet you're buying gold.

 

 

Tue, 10/22/2013 - 23:27 | 4081748 Downtoolong
Downtoolong's picture

The latest edition to my rules of investing, "If Icahn is in it, I don't want to be".

 

Wed, 10/23/2013 - 06:49 | 4082120 jmcadg
jmcadg's picture

Arrogant fuck. Shearing the sheeple with a shit kicking grin. This slime ball is laughing all the way to the bank.

Wed, 10/23/2013 - 14:07 | 4083402 explainstuff
explainstuff's picture

Anybody else playing the short side here?

Do NOT follow this link or you will be banned from the site!