Naked Wines surges as hedge fund manager calls it 'Netflix of wines'
By Michele Maatouk
Date: Friday 29 Oct 2021
(Sharecast News) - Naked Wines surged on Friday after Light Street Capital founder Glen Kacher said it was a top pick and referred to the business as the "Netflix of wines".
In an interview with CNBC, Kacher said the shares have the potential to quadruple in the next few years.
Kacher - who owns a 9.9% stake in the company - said: "We think this stock's a four bagger in four and a half years and much better than a 10 bagger over 10 years."
He said the business was "really similar to the evolution that we saw with Netflix" and that Naked Wines has a "huge head start in really building moats around this business".
"It's just an incredible business opportunity. It's an incredible value for the consumer. It's an incredible value for the winemaker," he said.
"You only find opportunities like this, you know, once every two to three years where you can multiply your capital many times over, you know, five to ten years."
At 0930 BST, the shares were up 15% at 754p, having rocketed on Thursday after Kacher's comments.
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