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Netflix CEO Buys $1 Million Worth Of Stock. FaceBook Stock

Tyler Durden's picture





 

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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Fri, 08/10/2012 - 15:46 | Link to Comment LoneStarHog
LoneStarHog's picture

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.

Fri, 08/10/2012 - 15:49 | Link to Comment Precious
Precious's picture

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.

Fri, 08/10/2012 - 15:59 | Link to Comment Pladizow
Pladizow's picture

He got a good deal through Groupon!

Fri, 08/10/2012 - 20:17 | Link to Comment Dr Benway
Dr Benway's picture

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...

Fri, 08/10/2012 - 16:16 | Link to Comment fireangelmaverick
fireangelmaverick's picture

I thought Warren was buying insurance for Small Cox. no?

 

Fri, 08/10/2012 - 15:54 | Link to Comment lineskis
lineskis's picture

A week ahead of the expiration of the lock up (~268 millions shares...), that's "ballsy"...

Fri, 08/10/2012 - 16:59 | Link to Comment css1971
css1971's picture

They're going to "da Moon!".

Fri, 08/10/2012 - 17:31 | Link to Comment Matt
Matt's picture

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?

Fri, 08/10/2012 - 16:07 | Link to Comment EvlTheCat
EvlTheCat's picture

MDB?  More like RobotTard.

Fri, 08/10/2012 - 20:25 | Link to Comment TeMpTeK
TeMpTeK's picture

"Of course, if one needed glaring evidence that FB is going far lower, this is it"

 

LMAO

Fri, 08/10/2012 - 15:44 | Link to Comment malikai
malikai's picture

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.

Fri, 08/10/2012 - 15:45 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

L0L!!!

an e-arb!

Fri, 08/10/2012 - 15:52 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

...by e-eyore

Fri, 08/10/2012 - 15:45 | Link to Comment slaughterer
slaughterer's picture

Ok, it must be a trick.  Where are the "green arrows"?

Fri, 08/10/2012 - 16:00 | Link to Comment The Wizard of Oz
The Wizard of Oz's picture

THE STOCK PRICE IS GREEN! LONG NFLX!

Fri, 08/10/2012 - 16:03 | Link to Comment hannah
hannah's picture

they are on the FB chart....

Fri, 08/10/2012 - 17:12 | Link to Comment NotApplicable
NotApplicable's picture

I saw red.

I saw red.

One more part-time company, I shot dead.

Fri, 08/10/2012 - 19:25 | Link to Comment Konami Code
Konami Code's picture

Everyday I sell it just a little bit more, little bit more, little bit more.

Fri, 08/10/2012 - 15:45 | Link to Comment cossack55
cossack55's picture

Maybe FacePlant is doing a IPO DVD.

Fri, 08/10/2012 - 18:55 | Link to Comment Zero Govt
Zero Govt's picture

he's helping shore up California's pension funds isn't he?

nobody needs help as much as California

 

Fri, 08/10/2012 - 15:46 | Link to Comment CvlDobd
CvlDobd's picture

Things I learned on ZeroHedge today, I'm color blind.

Fri, 08/10/2012 - 15:46 | Link to Comment magpie
magpie's picture

This should be good enough for a takeover rumour in whatever direction.

Fri, 08/10/2012 - 16:21 | Link to Comment greensnacks
greensnacks's picture

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!

 

Fri, 08/10/2012 - 19:14 | Link to Comment jumbo maverick
jumbo maverick's picture

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.

Fri, 08/10/2012 - 15:47 | Link to Comment Ralph Spoilsport
Ralph Spoilsport's picture

Well, here's another thing today on ZH that is really fucking stupid. FaceBerg?

Fri, 08/10/2012 - 15:46 | Link to Comment Meesohaawnee
Meesohaawnee's picture

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

 

Fri, 08/10/2012 - 15:55 | Link to Comment Hype Alert
Hype Alert's picture

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.

Fri, 08/10/2012 - 16:02 | Link to Comment magpie
magpie's picture

It would be interesting to know what yield pain threshhold they are willing to accept to get Obama reelected.

Fri, 08/10/2012 - 16:09 | Link to Comment Hype Alert
Hype Alert's picture

It's not their money.

Fri, 08/10/2012 - 16:12 | Link to Comment magpie
magpie's picture

Until it isn't money anymore.

Fri, 08/10/2012 - 16:11 | Link to Comment smlbizman
smlbizman's picture

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...

Fri, 08/10/2012 - 15:49 | Link to Comment e-man
e-man's picture

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?

Fri, 08/10/2012 - 17:15 | Link to Comment NotApplicable
NotApplicable's picture

But it's a robust service economy!

Fri, 08/10/2012 - 15:50 | Link to Comment Dr. Engali
Dr. Engali's picture

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.

Fri, 08/10/2012 - 15:50 | Link to Comment Shizzmoney
Shizzmoney's picture

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.

Fri, 08/10/2012 - 15:51 | Link to Comment debtor of last ...
debtor of last resort's picture

Anticipating to the new hft/CB world. AND BTFD. A learning moment?

Fri, 08/10/2012 - 15:51 | Link to Comment Scalaris
Scalaris's picture

Pulling the classic Whitney Tilson move I see.

Fri, 08/10/2012 - 15:54 | Link to Comment Dr. Engali
Dr. Engali's picture

Whitney was buying Netflix at $300 and calling it a value stock.

Fri, 08/10/2012 - 16:22 | Link to Comment Scalaris
Scalaris's picture

So many conflicting ironies; mainly poetic.

Next up, Zuckerberg stacking up on dark pools of J.C. Penney. 

Fri, 08/10/2012 - 15:53 | Link to Comment Squid Vicious
Squid Vicious's picture

scumbag was unloading 5000 shares every week like clockwork on the way up, while telling shareholders everything was going better than great!

Fri, 08/10/2012 - 15:56 | Link to Comment Cursive
Cursive's picture

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.

Fri, 08/10/2012 - 16:07 | Link to Comment Long-John-Silver
Long-John-Silver's picture
400,000 American homes have dumped pay-TV so far this year

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. 

Fri, 08/10/2012 - 15:56 | Link to Comment Long-John-Silver
Fri, 08/10/2012 - 16:00 | Link to Comment This is the end
This is the end's picture

If he needs to boost earnings just take free cash and buy any dips in spy.

Fri, 08/10/2012 - 16:07 | Link to Comment Bear
Bear's picture

No MANU purchase ... Wtf

Fri, 08/10/2012 - 16:12 | Link to Comment LongSoupLine
LongSoupLine's picture

 

 

I hear it was the only way Hastings was going to get Zuck to "friend him".

Fri, 08/10/2012 - 16:25 | Link to Comment adr
adr's picture

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.

 

Fri, 08/10/2012 - 16:29 | Link to Comment Arnold Ziffel
Arnold Ziffel's picture

"Mr Hastings couldn't be reached for comment."

Fri, 08/10/2012 - 16:31 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

LULz

now RobotTrader has doubled down automatically on FB since his holdings in NFLX are already well-established.

For the muthafuckin WIN

Fri, 08/10/2012 - 16:57 | Link to Comment Lost Wages
Lost Wages's picture

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.

Fri, 08/10/2012 - 17:37 | Link to Comment css1971
css1971's picture

You need a Tivo. It filters out the worthless garbage for you, automatically records the good stuff.

Fri, 08/10/2012 - 17:00 | Link to Comment Me_Myself_and_I
Me_Myself_and_I's picture

I'm waiting for NFLX to fall the price of a couple of lattes.  Then I might buy a share.  Or not.

Fri, 08/10/2012 - 17:19 | Link to Comment css1971
css1971's picture

"No buy transactions found for given criteria"

I'm not sure that would fill me with confidence in the company were I a shareholder...

Fri, 08/10/2012 - 17:19 | Link to Comment Moe Howard
Moe Howard's picture

Mother fucker should have purchased one million dollars of gold. To the moon, Alice!!!!

Fri, 08/10/2012 - 17:46 | Link to Comment Paul Atreides
Paul Atreides's picture

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

Fri, 08/10/2012 - 18:23 | Link to Comment Ted Baker
Ted Baker's picture

FACEBOOK WILL HIT 25$ A PIECE BY END OF NEXT WEEK....TIME TO BUY

Fri, 08/10/2012 - 20:17 | Link to Comment MarsInScorpio
MarsInScorpio's picture

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-

Sat, 08/11/2012 - 01:53 | Link to Comment knowshitsurelock
knowshitsurelock's picture

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.

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