Netflix stock slips after Reed Hastings’ $39 million sale; analyst downgrade spotlights Warner deal risk
Netflix shares fell 0.9% to $90.65 in after-hours trading Tuesday after a filing showed director Reed Hastings sold 426,290 shares under a 10b5-1 plan. CFRA downgraded Netflix to Hold, citing risks from the pending Warner Bros. Discovery acquisition. The drop came as the Nasdaq-100 ETF rose 0.9%. Netflix reports earnings Jan. 20.