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Netflix Cofounder Reed Hastings Sells Stock Worth Nearly $38M – NFLX Stock Eyes A Three-Day Red Streak
Netflix co-founder Reed Hastings sold 407,550 shares of Netflix stock for nearly $38 million, following a trading plan he adopted in August 2023. This sale comes as NFLX stock is heading for a third consecutive daily decline, having already fallen over 15% since the company reported disappointing first-quarter earnings and a tepid forecast. Despite the recent stock drop, Wall Street analysts largely maintain ‘Buy’ or ‘Hold’ ratings on the stock.