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Netflix Shares Jump Above $100 for First Time

Apr 23, 2010  •  Post A Comment

Netflix shares jumped over $100 for the first time since the company sold stock to the public eight years ago, the Hollywood Reporter reports.

The shares jumped 15% to $100.25 on Wednesday after investors responded to a "solid" earnings report that included favorable guidance.

What may be fueling investors’ appetite for the stock is its video-streaming-on-demand service, which allows subscribers to watch Netflix’s library without waiting for the mail delivery person to drop off a physical DVD.

Still, although Netflix’s VOD can be watched on popular devices ranging from the iPad to Wii, it faces stiff competition from Hulu, Blockbuster and others.

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