NFLX spent more than a billion back in 2011 to do stock buy back around 280 after stock dropped from 305. There is no doubt Hasting's goal will be at least bring the stock up to no less than $200 this quarter. Always be very careful with many more possible good news in his sleeve to ready to run this stock higher. NFLX can behave like AMZN that anyone who tries to short and be greedy will get killed. I am the type of trader that rather buy low and sell high with stock like this. Stay away from it if you don't believe in it, but don't short it. Good luck and have a great weekend. See you over $182 next week.
actually netflix was buying back shares on the way up to 300 - avg around 225 - before it crashed.
All this time, Reed was dumping 5K shares every month until he was completely sold out before the crash.
One of the sleaziest things I've ever seen.
This was to counter and burn shorts like Whitney Tilson and it did.
Then Reed completely over-turned the business model, beginning the dvd-kill-off, and committing to billions a year in streaming costs that cannot be paid for in new model, as churn continues and subs can't rise fast enough to pay for it.
Then the Icahn, phoney earnings, and short-squeeze blew the bubble up again.
It will pop, not if, but when.
Massive H&S pattern and quickly dropped from 177, previous resistance.
Shorts in the cat-bird seat here.