t's easy to kick a fallen icon when he's down.
Netflix (Nasdaq: NFLX ) CEO Reed Hastings revealed in an SEC filing last week that he had invested $1 million in Facebook (Nasdaq: FB ) . Acquiring nearly 48,000 shares at an average weighted price of $21 may seem opportunistic. This is the same company that went public at $38 just three months ago.
However, the more common reaction has been to ridicule his purchase.
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