Netflix CEO acquires Facebook shares

Netflix CEO acquires Facebook shares

PanARMENIAN.Net - Netflix CEO Reed Hastings has given a thumbs-up to Facebook by buying about one million US dollars (£637,000) of its stock, Belfast Telegraph said.

Mr Hastings is a Facebook board member and the first insider at the social media company to disclose buying its stock since its initial public offering in May.

Facebook's stock has fallen nearly 45% since it first sold public shares to investors at 38 dollars (£24). It was one of the most anticipated IPOs, but investors have been questioning its ability to keep increasing its revenue.

Purchases by company executives or directors are typically considered a vote of confidence in the company.

A regulatory document filed on Thursday with the Securities and Exchange Commission shows that Mr Hastings bought nearly 48,000 shares on Wednesday at 21.03 dollars each. Facebook's stock closed that day at 20.72 dollars.

 Top stories
Previously, when the Verify Apps service was enabled, only apps from third-party app stores were scanned, and only upon installation.
The device is built for the upcoming Windows Phone 8.1 and features a 5-inch display, wireless charging and a 20MP camera.
“Law enforcement has to respond to modus operandi that are changing and developing on a daily basis,” Steven David Brown said.
All those who ordered the phone during these 10 days will be gifted branded S View Covers by Samsung Armenia.
Partner news