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An insider dumps shares as he knows 'whats up'. Hence contributes this price information to the market...following him would have been quite profitable.
actually, if he knew he was resigning, he was in possession of material non-public information....
Im not a securities law expert, but i do understand it isn't that simple. You can't seriously expect him to not know he was quitting a few days after the share dump. Not saying he was 100% on it, but it wasn't a new idea that popped into his head after the fact..
The share dumping was undoubtedly part of a 10b5-1 trading plan that was filed way in advance of the actual sales. Proper execution of a 10b5-1 is an affirmative defense against insider trading, even if you know you plan to quit the day of the last sale.
Also known is attorneys' parlance as a "noisy withdrawal."
That's parlance for some other whore professions, too, I guess.
Must be on the Ken Lewis program? And we all know what happened to BOA after the same performance.
Damn, didn't even give the ole 2 weeks notice. Apparently.
Dummy...you don't have to abide by any laws when you have a Cxx in front of your name.
Laws are for peasants...now buy that f'ing dip and get back to work!
Massive dumping by a CFO who then leaves the company usually indicates massive gains ahead, right?
100% of the time.
Im glad you understand the new markets ;)
Hmmm seems my NFLX puts should be helped by this news.
Aw man...just when his business model was about to be revealed as cross-eyed and color blind. I was looking forward to the CNBC interviews where he would try to put stupid back into the bottle.
This market is truly no fun anymore.
Oh so very wrong my good fellow.
Trading NFLX as it ran up and trade it again as it runs down? How much more fun can you have with a market?
Thanks to all who make this possible; Christmas is going to rock no matter the direction of this beauty of a market!! Just pop baby, just pop!! No matter the where you may head, just keep poppin' dear Mary; just keep poppin'!!
Happy holidays to all!!
I have not been able to get a borrow on Netflix for over a month. Perhaps, you sell short without those...I cannot. But I would love to short it if I could.
Goddammit buy the fucking dips!
He's leaving to spend more quality time with the family.
No, I'm 100% confident (yes, 100%) that he was leaving to pursue future endeavors.
Nobody ever has done that! They always say it.
There is no bigger red flag that something is wrong at a company than the CFO leaving for <insert innocuous pursue other interests, more time with family reason here>... well, I guess having the CFO hauled away in cuffs would be a slightly bigger red flag.
well, I guess having the CFO hauled away in cuffs would be a slightly bigger red flag.
LOL, nah you just get extra CNBC coverage for the next pump job, with Cramer saying nothing is wrong, that it's ridiculous to sell, and just BUY BUY BUY!
Just the combination of the FCC coming out against network neutrality and Comcast threatening to charge extra for Netflix streaming. Soon every company that has a wire into your abode will be charging every other company per bit. It'll be a big complicated expensive mess. PS: We downgraded to streaming only when they last raised rates. The picture has improved substantially using the new PS3 client app.
I know someone else who did this and it's perfectly legal. SO he's smart let's give him credit for leaving before the bubble explodes.
Legal but shouldn't be. Stupid Compensation Boards should make that illegal, some kind of clawback. Pump, Dump and Run--hilarious
PFFFFTTTT. Piss on you. If he didn't do that, I would never have gotten that flight on his G5. I'm glad he did because he told the board they were f'd in the head for their actions when the .stupidity insanity was underway.
The rats always know when it's time to jump ship.
Naccio virus. It's going to hurt him.
How many talking heads will be on CNBC tomorrow saying it's a screaming buy at $180, or whatever it gaps down to at tomorrow's open.
Just buy the dips
Only if you can get enough nachos to go with them.
Stock options bitcheeeez
Wall st still making multimillionaires. It's all good
Last thought. Too bad he didn't announce next Thursday just before optionex. That would have been extra fun
insiders get copious shares for free. that in itself makes buying stocks a raw deal.
Ha! Great deal for the C level fucks whose options become fully vested in like 5 minutes. The company drones have to wait what 1-2 years? It's been a while since I've dealt with this, but you get the idea of the rigging at work here.
This is for his kids college fund.
Barry: O crap, they've figured out our business model!
Plan B time.
This creates an excellent entry point (aka DIP) for those who missed out on owning the most advanced company in the world.
a) they don't have the movies i like or want to watch
b) their streaming option is like watching a shitty youtube video on a HDTV
c) pirating is easier, and much better quality
Marc Cuban II.
As i have outlined here before I believe this NFLX mgt is blatantly misleading the public on actual number of subs who are streaming. They have repeatedly mis characterized the company as a "streaming company who happens to send some DVD by mail" when all the antedotal evidence is that under 10% of their based would actually pay for streaming and is doing so frequent enough to classify them as streamers. This is all a ploy jsut like the debt issuance was then the buy back to prop stock up.
For your review here are the facts:
In the past I have presented multiple pieces of antidotal evidence that NFLX has been misleading investors on the extent it is a streaming company. The latest of which is a non-scientific poll by http://www.hackingnetflix.com/ that shows that only 13% of its subs would trade down to the $7.99 streaming only package. If true this implies that the majority of their subs are not streaming subs and this is not in the words of Hastings a streaming company who mails DVD. ALSO if the NFLX subs are actually mainly DVD based subs who occasionally stream why is then that NFLX is granted an internet cos. all streaming valuation vs. CSTR at a 50 P/E vs. under 20? If am correct the street is granting the company a streaming P/E when it should still receive primarily a legacy DVD P/E.
Past evidence is as followed for your review…..
1) Sandvine Networks study implies NFLX streaming subs that represent 20% of primetime traffic are actually under 1M.
2) NFLX hiring actors to fool investors on Canadian launch.
3) NFLX vague definition of extent of its subs streaming then announcing it will no longer disclose stat.
4) NFLX representing <1% of AKAM’s revenues.
5) Announcing a streaming only plan AFTER the fact of convincing investors that it’s a streaming company.
6) Extension of free trial period to a mth from 2 weeks.
7) Free sub rise as a percent of new subs in recent qrts and relative to 4Q guidance.
8) Actual cord cutting subs in total across all legacy cable MSO amount to a few hundred thousand.
Is he on or off Cramer's wall of shame? Inquiring minds want to know.
and that folks, is why you get a degree in finance.
Anyone who buys Netflix stock at $200 per share better know what they are doing and have their stop set pretty tight. Rocket rides are more fun going up than coming down.
Heck, let's see if more CFO's have the stones to resign in the face of recovery at any cost national security imperatives
It might be interesting to concoct a cap-weighted index of companies whose CFOs have resigned and left the company. Not sure how easily one can acquire such historical data but it could be instructive.
We now know why we buy the physical these days - don't we people?
Everything else is a coke-induced nightmare,
A scam or counter trade by the squid
My oh my
the shorts are getting one last exit today before 1650
Smart man, that Barry. Good to see some form of capitalism still works. Best wishes to him. He's managed to restore some faith in this crazy system. Buy low, sell high. How much simpler could it get?
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