×
The Standard e-Paper
Join Thousands Daily
The Standard Group Plc is a
multi-media organization with investments in media platforms spanning newspaper
print operations, television, radio broadcasting, digital and online services. The
Standard Group is recognized as a leading multi-media house in Kenya with a key
influence in matters of national and international interest.
Billionaire investor William Ackman liquidated a $1.1 billion bet on Netflix (NFLX.O) on Wednesday, locking in a loss of more than $400 million (Sh46.2 billion) as the streaming service's stock plunged following news that it lost subscribers for the first time in a decade.
Ackman's hedge fund Pershing Square Capital Management made an abrupt U-turn, selling the 3.1 million shares it had bought just three months ago as Netflix' shares tumbled 35% to $226.19.
Subscribe to our newsletter and stay updated on the latest developments and special offers!
join