Take that, big film studios. Shares of Netflix (NFLX) surged 6% Monday, a day after the company took home five Golden Globe awards for movies and television.
The stock is now up 18% this year, easily making it the best performer of the FAANG tech companies.
Banking, finance and investments
Business and industry sectors
Business, economy and trade
Digital and streaming video
Financial markets and investing
Internet and WWW
Movie and video industry
Netflix has been on a hot streak as investors salivate about the prospects for more big gains in subscribers, revenues and profits this year — even as some are concerned the company continues to spend billions of dollars on new content.
Those bets seem to be paying off, though. Netflix will wind up adding more subscribers in the US than Wall Street is expecting, Piper Jaffray analyst Michael Olson predicted in a report Monday based on an analysis of search trends for Netflix on Google.
Sure, some analysts are worried that Netflix could lose some momentum as Amazon and Apple invest more in their own original content and Disney (DIS) launches its own streaming rival.
But for now, Netflix has all the buzz.
Just look at how much people have been talking about the choose your own adventure episode of "Black Mirror" and the Sandra Bullock thriller "Bird Box" on social media.
- Netflix is the king of Hollywood — and Wall Street
- Sorry, Hollywood. Netflix rules the media world
- iQiyi, China's answer to Netflix, plunges in Wall Street debut
- Netflix added 5 million customers, but Wall Street is panicking
- Wall Street regains title as king of IPOs
- Bob Iger is the undisputed king of Hollywood
- It's time for Netflix to prove it's still the king
- Hollywood honors Stan Lee
- Hollywood remembers Penny Marshall
- Goldman Sachs is Wall Street's big loser