Investor Strategy

Netflix Jumps to Trade Near 52-Week High

imageStock Markets11 hours ago (Apr 13, 2020 01:42PM ET)

(C) Reuters.

By Kim Khan

Investing.com – Shares of Netflix (NASDAQ:NFLX) bucked the broader market trend Monday to trade sharply higher on speculation the boost in demand for streaming services won’t ebb once the Covid-19 pandemic passes.

Netflix rose 6% in afternoon trading, trading near a 52-week high.

The streaming service has been touted as a safe stock at a time when people are in lockdown and a positive mention on Barron’s over the weekend has helped sentiment.

Netflix could be getting a permanent leg up on traditional TV, Rich Greenfield of LightShed Partners told Barron’s.

“I do not believe there’s going to be a fall TV season for the first time ever,” Greenfield said.

TV and film studios may have to “do something drastic and rethink their business model,” he added.

Among other stocks with streaming exposure, Roku (NASDAQ:ROKU) rose 2%, Amazon (NASDAQ:AMZN) gained nearly 5%, while Walt Disney (NYSE:DIS) fell 2.6%.

Netflix Jumps to Trade Near 52-Week High

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

Your daily news source covering investing ideas, market stocks, business, retirement tips from Wall St. to Silicon Valley.

Disclaimer:

TheProficientInvestor.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 TheProficientInvestor. All Rights Reserved.

To Top