Nancy Pelosi’s Husband Missed Out a Big Rally in Netflix Stock
Netflix (NFLX:US) shares are already up over 22% since the beginning of the year, fueled by the better-than-expected earnings report released earlier in January.
Despite weaker-than-expected earnings per share reported for the fourth quarter, NFLX stock soared as the company managed to add 7.66 million new subscribers, crushing the 4.57 million consensuses. It is important to note that this is the first quarter that the streaming giant’s new ad-supported service is included in its earnings results.
“2022 was a tough year, with a bumpy start but a brighter finish,” the company stated, “We believe we have a clear path to reaccelerate our revenue growth: continuing to improve all aspects of Netflix, launching paid sharing and building our ads offering.”
The strong outperformance in recent weeks comes after Nancy Pelosi’s husband Paul sold 2,000 Netflix shares worth nearly $600,000 on the last two trading days in December while the stock was trading just above the $290 handle. The disclosure also went on to state that Pelosi sold NFLX at a loss of $66,385 and $63,535 on two trades; one taking place on Dec 29 and the other on the 30th.
The sale was made as Pelosi used the recent bounce in stocks to reduce his exposure to tech sector as he was also selling shares of Alphabet (GOOGL:US), PayPal (PYPL:US), Tesla (TSLA:US), and Roblox (RBLX:US).
Besides Pelosi, Senator Ron Wyden was also selling Netflix shares recently. He sold between $50,000 and $100,000 Netflix shares on November 11, when the stock closed at $290.13.
Netflix stock closed at $360.77 on Friday.