Billionaire Mark Cuban said he’s buying shares of Netflix because he believes that the streaming service will be an acquisition target, reports Bloomberg.
Cuban tweeted on Friday, “I’m buying NFLX stock. At half of YHOO, 10B<Twitter and small pct of major media companies, someone will try to buy them.”
Cuban, who owns the Dallas Mavericks, is buying shares after Netflix shed more than 20% of its value over two days. The stock fell after Netflix reported a third-quarter slowdown in subscriber growth after it raised prices by $1.
Cuban told CNBC that he added 50,000 Netflix shares to his stake, adding that he wasn’t sure of his total holdings.
Netflix has a market value of $21 billion, compared with $30.5 billion for Twitter and $39 billion for Yahoo, the story notes.