Netflix Shares Hit All-Time High After Expansion Announcement

Jul 6, 2011  •  Post A Comment

Netflix’s shares touched an all-time high of $291.23 during trading Tuesday before closing up more than 8% for the day at $289.63, reports the New York Post. The surge came after the company announced plans for an aggressive expansion into Latin America.

Netflix’s push into the region could help the video-streaming and DVD rental service maintain its growth, the story says. The plan will expand Netflix’s streaming video service to 43 countries across Central and South America and the Caribbean, a more ambitious rollout than had been expected.

The expansion aims to tap more than 40 million broadband users in Latin America. Netflix didn’t set a date as to when the service would be available or its pricing.

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