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.

Your Comment

Email (will not be published)