Netflix CEO Reed Hastings Lost $648 Million in Stock Freefall

The streaming chief is feeling the pinch after his 5.16 million shares took a tumble

Netflix co-CEO Reed Hastings lost nearly $648 million of investment in his own company as his 5.16 million shares have suffered a freefall after the streamer announced a loss of subscribers Tuesday.

Netflix stock tumbled by more than 20% in after-hours trading. On Wednesday, the slide became even worse. As of 11 a.m. PT, the stock had dropped 35.90%, or $125.50 per share, to $223.43.

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Diane Haithman

Senior Entertainment Business Reporter • • @dhaithman