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Wajeeh Khan

Netflix Stock Breaks Below 20-Day Moving Average Amid Selloff. Should You Buy the Dip?

Netflix NFLX Reed Hastings Barchart

Netflix (NFLX) shares are slipping on Wednesday after regulatory filings revealed Reed Hastings has unloaded more than 375,000 shares of Netflix stock. 

On Dec. 1, the cofounder and current chairman of the mass media giant sold 375,470 NFLX shares. However, it appears that through a prearranged 10b5-1 trading plan, Hastings simply sold shares that converted on the same day as the transaction. 

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