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A member of Congress bought Netflix Inc (NASDAQ:NFLX) shares weeks before the company announced a massive $82.7 billion buyout offer for Warner Bros. Discovery (NASDAQ:WBD) media assets. While the timing of the trade has caught some attention, it may have been a coincidence.
• Netflix stock is showing downward pressure. Where is NFLX stock headed?
Rep. Cleo Fields (D-La.) disclosed buying Netflix stock on Nov. 20, according to the Benzinga Government Trades page.
The transactions were as follows:
The two transactions show Fields may have bought up to half a million in Netflix stock weeks before Netflix announced a buyout offer.
Buying Netflix stock right before the buyout offer may look like a potentially questionable timed trade, but it may have been worse if it were a member of Congress buying Warner Bros. Discovery shares.
After all, Warner Bros. shares have gained due to the interest from Netflix and Paramount Skydance Corp. (NASDAQ:PSKY), which has countered Netflix's bid with a higher offer for the media company.
Netflix shares, on the other han,d have fallen in value since Fields' purchases.
Netflix stock traded between $105.39 and $111.10 on Nov. 20. Today, the stock trades at $94.09.
This means that Fields is currently down 10.7% to 15.3% on his latest Netflix purchases.
Did You Know?
In 2025, Fields became one of the top traders in Congress based on dollar amount. The congressman has made several disclosures with millions of dollars in purchases of Magnificent Seven stocks.
Benzinga previously shared that Fields had also been previosuly buying up Netflix stock.
A previous disclosure showed the following purchases:
While Fields’ Netflix buys may jump out due to the timing, the congressman has shown favor to the streaming giant in recent months and right now is looking at a losing trade based on investors not loving the company's large buyout offer for Warner Bros.
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