Netflix chills at the top

Netflix chills at the top

While the markets dropped yesterday, Netflix took a swing and closed the day on a high note.

Netflix seems to follow the example of Amazon, reaching an all-time high as everyone expects it to be the top-performer in the streaming industry. In part, it is due to the pandemic which keeps people in their homes.

Share prices went up yesterday by 3.02% to $426.75. It had set a new record for itself, after the one from July 9, 2018, when it traded at $418.97. After yesterday, it outdid its rival, Disney+, which reached 50 million subscribers in just five months.

Not only had it beaten Disney+ in share price, but also at market capitalization. Netflix has a market cap of $187.3 billion, while the kid-friendly Disney+ has $186.6 billion.

Things will be more precise for Netflix after next week when it will release its earnings for the first quarter of 2020. Analysts expect 8.45 million new subscribers for the last quarter, and they have a prospect of $490 per share.

Compared to the same period the previous year, during this year's quarantine period streaming increased by 109%.


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Sources: marketwatch.com, variety.com

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