Sometimes timing is everything in the stock market, and two members of Congress may have just learned that lesson the hard way. Netflix Inc. (NFLX) is gearing up for what could be a blockbuster fourth-quarter earnings report, fueled by live sports and advertising momentum. But Reps. Gil Cisneros and Jonathan Jackson won't be along for the ride after dumping their shares in early December.

The December Sell-Off

Rep. Gil Cisneros (D-Calif.) reported selling between $1,000 and $15,000 worth of Netflix stock on December 10. This came after he'd purchased shares on November 18 and October 17. The math doesn't look great: Netflix traded at highs of $115.25 and $120.31 on those purchase dates, but only reached $96.97 on the day he sold. That's a loss no matter how you slice it.

Rep. Jonathan Jackson (D-Ill.) made an even bigger move, selling between $50,000 and $100,000 in Netflix shares on December 8. He'd bought in on April 16 when the stock hit $98.12. On his sale date, Netflix peaked at $99.89, which might have been a tiny gain, but barely worth the trouble.

Meanwhile, at least one other Congress member has been steadily accumulating Netflix shares over recent months, heading in the opposite direction.

What They Missed

Here's where the timing gets really interesting. Just days after these sales, Netflix aired two NFL games on Christmas Day that absolutely crushed it. The Detroit Lions versus Minnesota Vikings matchup set a new U.S. streaming record with 27.5 million viewers. The Dallas Cowboys versus Washington Commanders game pulled in another 19.9 million U.S. viewers. Viewers from over 200 countries tuned in to at least part of one game, driving global numbers even higher. Snoop Dogg's halftime performance during the Lions-Vikings game averaged 29 million viewers all by itself.

Then came the grand finale of "Stranger Things." Netflix dropped the second and third parts of the show's fifth and final season on December 25 and December 31, right after the congressmen sold. The final season set viewership records, becoming the sixth most-watched English-language season ever on the platform and fourth by total hours viewed.

The Earnings Picture

Netflix reports fourth-quarter results on January 20, and analysts are expecting some serious growth. The consensus calls for earnings of 55 cents per share and revenue of $11.97 billion, compared to 43 cents and $10.25 billion in last year's fourth quarter. That quarter will capture the full impact of both the NFL Christmas games and the "Stranger Things" finale.

History suggests January tends to be a strong month for Netflix stock, partly thanks to holiday quarter earnings. Over the past two decades, the stock has averaged gains of 14.7% in January and traded higher 71% of the time during that month. Recent years have been particularly strong with January gains of 20% in 2023, 15.9% in 2024, and 9.6% in 2025.

Whether the congressional sales were strategically sound or poorly timed will become clearer after the earnings report drops and January wraps up. But selling right before major catalysts and a historically strong month? That's a bold choice.

Current Trading

Netflix stock closed at $90.32 on Tuesday, trading within a 52-week range of $82.11 to $134.12. Shares are up 7.5% over the past year.