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