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Why Carl Icahn dumped his last Netflix shares

Key Speakers At The Robin Hood Investors SummitKey Speakers At The Robin Hood Investors Summit
Billionaire activist investor Carl Icahn speaks during a Bloomberg Television interview at the Robin Hood Investors Conference in New York, U.S., on Tuesday, Oct. 21, 2014. Icahn said Warren Buffett is sometimes "way too easy" on companies in which his Berkshire Hathaway Inc. invests. Photographer: Peter Foley/Bloomberg via Getty ImagesPhotograph by Peter Foley — Bloomberg via Getty Images

Carl Icahn announced on his Twitter Wednesday that he’s sold his last Netflix shares.

Icahn Enterprises, which owned about 1.4 million Netflix shares at the end of 2015’s first quarter, made the move after Netflix (NFLX) announced approval of a 7-for-1 stock split, according to CNBC.

Per the publication:

The split will come in the form of a dividend of six additional shares for each outstanding share, Netflix said. It is payable on July 14 to stock owners of record at the July 2 close. Trading at the post-split price will start July 15.

CNBC reported, too, that Netflix stocks dipped slightly after Icahn’s message on the social media service.

Here’s Icahn’s Twitter message announcing the decision:

Netflix has expanded in recent years becoming not only a streaming service for television and film, but also a developer of new movies and TV shows.