Netflix Trading Up 7%

Netflix

is having a strong session on Friday. At last check the stock had risen around 7% to $77.53. Volume has been heavy with more than 8 million NFLX shares trading hands compared to a 3-month daily average of under 6 million. The catalyst for the move in the stock was news that Netflix Director Jay Hoag bought more than 200,000 shares for roughly $14.5 million through his venture capital firm. Hoag now owns more than 275,000 NFLX shares. Netflix, Inc. (Netflix) is an Internet subscription service streaming television shows and movies. The Company's subscribers can watch unlimited television shows and movies streamed over the Internet to their televisions, computers and mobile devices, and in the United States, subscribers can also receive digital versatile discs (DVDs) delivered to their homes.