BENZINGA - Aug 13 - Netflix CEO Reed Hastings has acquired ~40K shares of Facebook at a price of $21 each, costing him ~$1M. While Facebook has had a number of problems since its IPO, including allegations of click fraud, Facebook is largely believed to be one of the strongest tech companies in the world and is expected to be around for a very long time. Netflix, however, may not be so lucky. The company has been flying down a path of destruction since it announced the infamous price hike that raised the monthly cost of its DVD/streaming rental combo by 60%. The company's share price has been declining ever since.
by Louis Bedigian
See full article at Benzinga
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