Netflix Stock Price Soars As More People Stay Home James O'Connor As the COVID-19 pandemic forces people to stay home around the world, the global stock market has taken a tumble--but one company is doing very well. According to The Wrap, Netflix stocks hit a 52-week high on Monday April 13, rising 7% to nearly $397 a share--20% higher than it was at the beginning of the year. While this isn't quite an all-time high for the company, which hit a $411.09 share price in summer 2018, it's still a strong result at a time when most companies are struggling--but there's a good reason for that, as the pandemic has driven so many people to stay indoors. The Wrap quotes analyst Michael Pachter, who believes that "the market is correctly pricing in that stay-at-home orders mean greater consumption of in-home entertainment." The fact that people have more time to spend on services like Netflix has naturally led to a higher stock value. Continue Reading at GameSpot https://ift.tt/eA8V8J

As the COVID-19 pandemic forces people to stay home around the world, the global stock market has taken a tumble--but one company is doing very well. According to The Wrap, Netflix stocks hit a 52-week high on Monday April 13, rising 7% to nearly $397 a share--20% higher than it was at the beginning of the year.

While this isn't quite an all-time high for the company, which hit a $411.09 share price in summer 2018, it's still a strong result at a time when most companies are struggling--but there's a good reason for that, as the pandemic has driven so many people to stay indoors.

The Wrap quotes analyst Michael Pachter, who believes that "the market is correctly pricing in that stay-at-home orders mean greater consumption of in-home entertainment." The fact that people have more time to spend on services like Netflix has naturally led to a higher stock value.

Continue Reading at GameSpot

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