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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 | 2695068 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 | 2695094 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 | 2695137 Pladizow
Pladizow's picture

He got a good deal through Groupon!

Fri, 08/10/2012 - 20:17 | 2695826 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.



Fri, 08/10/2012 - 16:16 | 2695192 fireangelmaverick
fireangelmaverick's picture

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


Fri, 08/10/2012 - 15:54 | 2695123 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 | 2695347 css1971
css1971's picture

They're going to "da Moon!".

Fri, 08/10/2012 - 17:31 | 2695435 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 | 2695160 EvlTheCat
EvlTheCat's picture

MDB?  More like RobotTard.

Fri, 08/10/2012 - 20:25 | 2695835 TeMpTeK
TeMpTeK's picture

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



Fri, 08/10/2012 - 15:44 | 2695070 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 | 2695073 slewie the pi-rat
slewie the pi-rat's picture


an e-arb!

Fri, 08/10/2012 - 15:52 | 2695108 slewie the pi-rat
slewie the pi-rat's picture

...by e-eyore

Fri, 08/10/2012 - 15:45 | 2695075 slaughterer
slaughterer's picture

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

Fri, 08/10/2012 - 16:00 | 2695141 The Wizard of Oz
The Wizard of Oz's picture


Fri, 08/10/2012 - 16:03 | 2695149 hannah
hannah's picture

they are on the FB chart....

Fri, 08/10/2012 - 17:12 | 2695393 NotApplicable
NotApplicable's picture

I saw red.

I saw red.

One more part-time company, I shot dead.

Fri, 08/10/2012 - 19:25 | 2695727 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 | 2695079 cossack55
cossack55's picture

Maybe FacePlant is doing a IPO DVD.

Fri, 08/10/2012 - 18:55 | 2695666 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 | 2695081 CvlDobd
CvlDobd's picture

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

Fri, 08/10/2012 - 15:46 | 2695082 magpie
magpie's picture

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

Fri, 08/10/2012 - 16:21 | 2695208 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 | 2695704 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 | 2695084 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 | 2695087 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



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 | 2695116 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 | 2695147 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 | 2695166 Hype Alert
Hype Alert's picture

It's not their money.

Fri, 08/10/2012 - 16:12 | 2695181 magpie
magpie's picture

Until it isn't money anymore.

Fri, 08/10/2012 - 16:11 | 2695177 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 | 2695095 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 | 2695399 NotApplicable
NotApplicable's picture

But it's a robust service economy!

Fri, 08/10/2012 - 15:50 | 2695098 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 | 2695101 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 | 2695104 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 | 2695105 Scalaris
Scalaris's picture

Pulling the classic Whitney Tilson move I see.

Fri, 08/10/2012 - 15:54 | 2695119 Dr. Engali
Dr. Engali's picture

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

Fri, 08/10/2012 - 16:22 | 2695218 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 | 2695113 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 | 2695114 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 | 2695161 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 | 2695130 Long-John-Silver
Fri, 08/10/2012 - 16:00 | 2695139 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 | 2695156 Bear
Bear's picture

No MANU purchase ... Wtf

Fri, 08/10/2012 - 16:12 | 2695182 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 | 2695228 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 | 2695240 Arnold Ziffel
Arnold Ziffel's picture

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

Fri, 08/10/2012 - 16:31 | 2695249 MeelionDollerBogus
MeelionDollerBogus's picture


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 | 2695339 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.

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