In a conversation off camera on Friday with Fast Money, Tilson told us his opinion of Netflix hasn’t changed, even amid the weakness. He has been and we quote “buying steadily as its fallen” adding to his position in the mid-70s. And he also told us, “Netflix is back to being a very interesting acquisition target.”
"When something gets cheaper and the story stays the same we add to it," he said at the time. "We don’t look to the market for signals. We do our own analysis."
In late April, Netflix reported earnings that beat expectations but also raised concerns about slowing second-quarter U.S. subscriptions.
"We didn’t see anything that troubled us in the earnings report," said Tilson, noting the second quarter is "always weak and if you look at the earnings, showing the seasonality. We’re not spooked."
"He probably thinks it's very cheap,” muses top hedge fund manager Anthony Scaramucci on Tilson, who is a value investor and holds his position for a longer time period.