Netflix Shrugs Off Market Turmoil as Shares March Past $300
Trade wars? Higher interest rates? It doesn’t matter to Netflix Inc.
(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.
To contact the reporter on this story: Jeran Wittenstein in San Francisco at jwittenstei1@bloomberg.net.
To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net, Catherine Larkin
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