Carl Icahn has yet to sell even just one share of his stake in Netflix, and for good reason: the stock is currently trading at a three-year high and may soon be on its way to an all time-high.
While shares of the usual high-flier bounced around the breakeven line Thursday, they've been having quite the run.
Shares of Netflix (NFLX) have rallied 10% over the past five days, and have nearly tripled in value just this year.
Hedge fund manager Icahn, who first disclosed his stake Netflix in late 2012 and owns nearly 10% of the company, said Wednesday that he has yet to sell even one share.
Speaking at CNBC's Delivering Alpha conference in New York, Icahn said he considered selling the stock earlier this year, but his son, who originally picked the stock, threatened to quit. So he decided to sit tight.
Icahn also threw in compliments for Netflix CEO Reed Hastings.
"When a guy makes me about $100 million in a month and a half, I don't punch him in the mouth, I thank him. And I thank you, Reed," said Icahn. "I like Reed. He's a smart guy."
There was more good news for Netflix Thursday. The company made television history by being the first Internet streaming service to score Emmy Award nominations.
Altogether, Netflix's original shows, including House of Cards, Arrested Development and Hemlock Grove, received 14 nominations.
The momentum stock received plenty of attention on StockTwits, with some traders questioning how the stock will perform as Netflix gears up to report earnings next week.
Should Netflix deliver a strong second quarter, the stock could certainly rally, if history is any indication. In April, when Netflix handily beat analyst's first-quarter earnings expectations thanks to strong subscriber gains, the company's stock climbed more than 24% in one day.
Another trader, however, seemed skeptical of whether Netflix's subscriber growth has kept up.
It's certainly possible, but Netflix also released cult-favorite Arrested Development during the second quarter.
Another trader also worried about why Netflix executives, including chief financial officer David Wells, have recently been unloading shares.
Still, some traders seemed to think the stock will maintain its momentum, and is in fact, trading below where it should be.
But other also questioned whether Netflix's stock has gone too far too fast.
Netflix CEO Reed Hastings caused a stir last year after he revealed that Netflix's monthly online viewing had exceeded one billion hours on his Facebook page instead of a press release or public filing. That raised concerns about whether social media posts were in compliance with the Securities and Exchange Commission's Regulation Fair Disclosure (Regulation FD) rules.
But following an investigation prompted by Hastings' post, the SEC has decided it's MOREHibah Yousuf - Apr 2, 2013 4:24 PM ET
The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, Abbott Laboratories and AbbVie, La Monica does not own positions in any individual stocks.
Netflix investors have a reason to be in a good mood: Shares of the online video company were trading over $100 Tuesday morning. They haven't closed above the century mark since last April.
The stock is MOREPaul R. La Monica - Jan 8, 2013 1:32 PM ET
Maybe Netflix CEO Reed Hastings needs another Facebook status update about how awesome the company is?
Netflix (NFLX) shares lost more than a quarter of their value Wednesday after the company warned that it may lose money in the third quarter and fourth quarter. Investors were particularly not pleased by Netflix saying that the upcoming Olympics in London may lead to fewer streaming subscribers in the third quarter.
KidDynamiteBlog: $NFLX warns that customers MOREPaul R. La Monica - Jul 25, 2012 2:17 PM ET
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