I think NFLX is a turd but the fact that anyone thinks the SEC is going to look at a complaint from anyone is hilarious. They showed in their Q3 docs that total us/int streaming subscribers was at 29.5M so what is the big deal about 30M? Anyone can post whatever they want on FB. Was the runup a complete joke? YES, should NFLX be above 50? - NO, does NFLX have a bright future? - NO. The bottom line is that this is a stock that is poison to a long term portfolio but is definitely an opportunity for stock/option traders and yes, sometimes you will be on the wrong side of a trade. Just suck it up and get back to it and see if you can catch a tailwind in the right direction. Time is definitely better spent doing that than writing to a joke of an organization that simply doesn't care that the market is so easily manipulated at the expense of the small guy.
While I agree this is clearly a bogus rumor, this kind of thing happens 24/7/365 and rarely is there any action taken by the SEC.
Obviously some large powerful holders are stuck in NFLX and need to sell it at the best price possible, so post a rumor and dump away to all the chasers. I'll be buying more puts on Monday.
No one is buying NFLX. At least no one that is interested in making money. This biz model is garbage and already obsolete. There is no barrier to entry, so what exactly are you buying besides a name, debt and meager to no earnings?
the issue isn't the 30 million, the issue is posting a material event in a non-public forum. He did the same thing with the 1 billion hour comment. If he wants to update things like that, he should really file an 8-K