Agreed. I expect both a secondary and SEC charges within weeks.
The secondary while stock is well over 100 because if they don't their cash position by the end of the year will be lower than the end of last year, only 290m, dangerously low with 3b in content obligations this year.
The SEC with its new head will want to make an example of Hastings especially now that he's thumbing his nose at them. They can't allow a precedent where any CEO can post non-public info while ignoring SEC disclosure laws. Hastings can brag about whatever bogus metric he wants on FB or anywhere else, exactly one minute after he files the SEC forms.
You don't f*** with the Feds.