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Netflix CEO Buys $1 Million Worth Of Stock. FaceBook Stock
Reed Hastings is not a popular man with NFLX shareholders. After taking the stock just shy of $300 last summer, a series of abysmal executive decisions that followed (including buying company stock using corporate cash near the peak) has seen the video streamer plumb news depths, and recently was trading at fresh two year lows. One would think that if indeed the CEO had some extra cash lying around that he could do something, anything to prop up his company, and send some signal of confidence in the now battered one time high-flying DVD-rental company. And would also be right. Partially. Because as the attached From 4 indicates, Reed did indeed just fork over $1 million to buy new shares. Only problem is the stock he bought was not his own but that of... FaceBook. Which he bought at an average price $21. Of course, if one needed glaring evidence that FB is going far lower, this is it. Yet we certainly thank Reed for telling us and his shareholders that NFLX is still not low enough for him to even consider buying some here.
Ok, but surely, Reed has bought at least some NFLX stock in the past? Well, we will let readers answer for themselves.
In the chart below, red arrows indicate Reed's sales of NFLX stock. The green ones are where he bought.
h/t TradeHawk
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Reed Hastings wants to be able to tell his grandkids about his Facebook "investment" and how damn smart he was to be in the company of investors like MillionDollarBonus.
Oh! The stories that these two Gramps will be able to tell the little ones.
Netflix employees are being offered the Geico Health Insurance plan for $7.99 a month which provides 100 percent coverage for polio and small pox. Warren Buffett said the deal will be rolled out to the rest of the world within 12 months.
He got a good deal through Groupon!
Logically, if you look at the market as a whole, crossholdings between companies can produce no net cash inflow and so are utter dead weight. But they support each others share prices.
Munchhausen would be proud of this ridiculous new strategy.
http://redstateeclectic.typepad.com/.a/6a00d83452719d69e20147e03fa28a970...
I thought Warren was buying insurance for Small Cox. no?
A week ahead of the expiration of the lock up (~268 millions shares...), that's "ballsy"...
They're going to "da Moon!".
Lock-up expiry is bullish, right?
As a side note, are there two seperate tiers of shareholders, some with 90 day and some with 180-day lockups on FB?
MDB? More like RobotTard.
"Of course, if one needed glaring evidence that FB is going far lower, this is it"
LMAO
Things like this made me wish I did equities. But I'm glad I don't touch the stuff. Bad for the digestion, I hear.
L0L!!!
an e-arb!
...by e-eyore
Ok, it must be a trick. Where are the "green arrows"?
THE STOCK PRICE IS GREEN! LONG NFLX!
they are on the FB chart....
Everyday I sell it just a little bit more, little bit more, little bit more.
Maybe FacePlant is doing a IPO DVD.
he's helping shore up California's pension funds isn't he?
nobody needs help as much as California
Things I learned on ZeroHedge today, I'm color blind.
This should be good enough for a takeover rumour in whatever direction.
The rumor ought to be that the USPS is about to raise their rates and crush netflix ... but it's ok, cause FB will save 'em!
Netflix unleashes 12hit point DVD blindness spell
Facebook counters with 15hit point Jason Vorhees melee FarmVille attack
USPS conjures up a trumping 32hit point government avalanche paper cut attack
At least this is what Japanese analysts have discovered so far. Updates as details unfold.
Well, here's another thing today on ZH that is really fucking stupid. FaceBerg?
all im copying this. Reuters has really stooped to new "paid off "lows. this gets me so angry!!!!!!!!!!!!!! to see articles like this. I know ZH ers will be to. This just isnt funny
http://finance.yahoo.com/news/analysis-obama-presidency-great-stocks-174...
guys .Serious. Reuters needs to be really "lit up " for this one. I want to puke!! the lies are just unreal
Wall Street donates to get him out of office and get Romney elected, yet Wall Street runs up the market which will get him re-elected. Yes, it was a disgusting article.
We can't have a down day in the market. It would be interesting to find the WH behind some not so secret "buying" the market up.
It would be interesting to know what yield pain threshhold they are willing to accept to get Obama reelected.
It's not their money.
Until it isn't money anymore.
the silver lining in that article mee, is in the comments....in the last 2 yrs the wisdom of the populace has improved greatly...there was a time reading comments on those msm sites would make me throw my lap top across the room than the wife and kids got pissed cause i ruined diner...
Isn't this what dot coms did in the 90's? You buy our stock, we'll buy your stock and we'll all drive around in lamborghinis. What could go wrong?
But it's a robust service economy!
Now Tyler we all know that it is standard operating proceedure for a CEO to have programmed sales of stock.We wouldn't want them to have an over concentrated position in their portfolio now would we? I'm sure he is doing all for the sake of diversification.
The guy should of just set the money on fire and did a webcast and charged people for it.
He woudl of made more money off of setting it on fire than buying $FB.
Anticipating to the new hft/CB world. AND BTFD. A learning moment?
Pulling the classic Whitney Tilson move I see.
Whitney was buying Netflix at $300 and calling it a value stock.
So many conflicting ironies; mainly poetic.
Next up, Zuckerberg stacking up on dark pools of J.C. Penney.
scumbag was unloading 5000 shares every week like clockwork on the way up, while telling shareholders everything was going better than great!
Does NFLX really have any "shareholders?" It's just an overpriced sack of shit that gets passed around by a bunch of algos and momo chasing monkeys.
On-line streaming has made cable/satellite obsolete. In a year and a half over 1.5 million households have cut the cable/satellite and are paying for Netflix, Amazon, HULU, and other video/audio streaming services. Cable/Satellite will be dead within the next 2 years.
What Lemmings believe
If he needs to boost earnings just take free cash and buy any dips in spy.
No MANU purchase ... Wtf
I hear it was the only way Hastings was going to get Zuck to "friend him".
Corporations exist to be piggy banks for CEOs and directors. The higher you can con your share price to give greater profit per transaction, the better.
DO you need any more evidence than Reed's chart?
Hundreds of millions in his pockets, a giant load of worthless crap for shareholders.
"Mr Hastings couldn't be reached for comment."
LULz
now RobotTrader has doubled down automatically on FB since his holdings in NFLX are already well-established.
For the muthafuckin WIN
I spend most of my time on Netflix looking for something to watch, because it all sucks. I'll be looking for a movie or TV show to watch, then all of a sudden 40 minutes or an hour has gone by and I haven't found anything worth watching, I've just been clicking around on my Roku or Apple TV trying desperately to find something interesting. If Netflix were worth anything, I'm sure Zuckerberg would have bought them for $1 billion by now.
You need a Tivo. It filters out the worthless garbage for you, automatically records the good stuff.
I'm waiting for NFLX to fall the price of a couple of lattes. Then I might buy a share. Or not.
"No buy transactions found for given criteria"
I'm not sure that would fill me with confidence in the company were I a shareholder...
Mother fucker should have purchased one million dollars of gold. To the moon, Alice!!!!
Dear Mr. Hastings,
We would like to offer you an exchange, please buy 1 million in facebook stock or we'll set the algo's on YOUR company stock and make you look like a douchehat when it melts to nothing.
Sincerely,
TPTB
FACEBOOK WILL HIT 25$ A PIECE BY END OF NEXT WEEK....TIME TO BUY
I'd ask how someone like him stays out of jail, but all I have to do is look at who runs the Just Us Department, and I know the answer.
But I still don't know how someone like that stays on as the CEO . . . It's some kind of Skull & Bones thing, isn't it? They all got gay together, so they all have the dirt on each other.
-30-
I read the comments in this thread because I was sure that ZH'ers would come up with some pretty cool jokes. I'm disappointed.