Netflix Sees Major After-Hours Trading (NFLX)

Posted in after-hours 
December 7th, 2010

Netflix Inc. (NASDAQ: NFLX) is rapidly losing its greatness when it comes to momentum and growth investors.  On top of a well known short seller highlighting its flaws last week, the company is rather active in the after-hours session on news that its CFO is leaving.

The NASDAQ after-hours session shows that as of 6:00 PM EST the shares are trading down 3.6% at $183.00 after a close of $189.81.  After-hours volume is also very high considering close to a $200 share price.

Chief Financial Officer Barry McCarthy is leaving the company.  The listed reason is that he “has expressed a desire to pursue broader executive opportunities outside the company.”

The change is effective December 10.  Netflix shares are up close to 300% from the 52-week lows and he holds roughly 51,563 shares as of the November 10 date.

JON C. OGG

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