Netflix — for now — is worth more than Disney, after the streaming company’s shares rose to all-time highs Wednesday. The company’s stock, extending its three-day rally, was…
The company’s stock, extending its three-day rally, was up over 3% in morning trading, reaching a peak of $430 during the session. That gives Netflix a market capitalization of $187 billion, just higher than Disney, whose stock was down 2.5% Wednesday.
Investors clearly are expecting Netflix to benefit from the COVID-19 crisis, with millions of people under stay-at-home orders — and looking for a diversion. Netflix is scheduled to report first quarter 2020 earnings next Tuesday, April 21, after market close. It previously forecast total paid net adds of 7.0 million worldwide. Analysts expect Netflix to gain more than.
Streaming has boomed during the quarantine, with U.S. viewing of internet video on TVs more than doubling in March 2020, according to Nielsen data. AndMeanwhile, other “stay-at-home” stocks have also climbed in the past month —
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