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Netflix content, layoffs cause fund manager to sell shares before earnings

Netflix reimagined how we consume content at home, and its success spawned an entire streaming industry. Former founder and CEO Reed Hastings got lambasted for correctly shifting Netflix from at-home DVDs to streaming, a move that’s led to hundreds of millions of global subscribers, including me. The ascent has been rewarding for early shareholders, given Netflix’s stock price has gained a remarkable 60,000% since its 2002 IPO.

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