Is Icahn Hurting Netflix?

Following a trend of significant growth, movie rental service provider Netflix’s (NASDAQ:NFLX) shares dipped today by around 4 percent, to $181.56 per share, at 3:15 PM EST.  The shares were worth $189.37 at close last Friday, March 1.

The drop is fueling speculations about Carl Icahn, who was rumored to have been contemplating selling his shares in the company. Icahn bought a 10 percent stake in the company last November, at roughly $58 per share, according to iStockAnalyst.

Towards the end of January, Netflix saw its stock value explode, soaring from $103.26 to $169.26 over the course of two days. It went on to peak at $196.45 on February 19, before floating back to hover around the $185 mark.

In light of the Icahn speculations, the recent stock dip — which dropped as low as $177.33  per share at noon EST on Monday — could suggest that investors are looking to cash in their shares for profits, and not risk riding the wave long enough to see the value deflate.

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