🔴 NFLX is trading 3.04% down today after Director Reed Hastings offloads 99% of his direct stake

NFLX is trading at $88.25, down 3.04% today after a regulatory filing revealed that Director Reed Hastings sold nearly his entire direct stake in the company.

• Hastings sold 407,550 shares on May 1st at $93.13 per share for a total of $37.96 million, leaving him with just 3,940 shares.
• The 99% reduction in direct ownership has triggered investor concern regarding insider confidence, especially as the broader market is currently up 0.74-0.92%.
• The timing of the May 5th disclosure suggests company-specific factors are driving the decline rather than broader macro headwinds.