Netflix Shrugs Off Market Turmoil as Shares March Past $300
(Bloomberg) -- Trade wars? Higher interest rates? It doesn’t matter to Netflix Inc.
In a week that saw volatility spike and the Dow Jones Industrial Average shed 1,100 points over three days, Netflix continued to rally despite the lack of any big news. The shares quietly rose more than 5 percent on the week, closing at yet another record.
Netflix has now added more than $47 billion in market value this year on the way to an S&P 500-leading gain of 57 percent. That’s more than the market capitalizations of CBS Corp. and Viacom Inc. combined.
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