Continuing to ride a wave of investor optimism over the subscription video on demand space, Netflix stock reached a new all-time high Friday, closing at $301.05 per share, up about 4%, and beating its old mark of $297.36 each.
Netflix shares are up about 57% this year, building on a 55% gain in 2017. At its current price, Netflix’s market capitalization rises to $130 billion, putting it in the same league as media giants like Comcast ($169 billion) and The Walt Disney Co. ($155 billion).
Related: SVOD Market: Survival of the Fittest
Netflix is the biggest gainer so far of the so-called FAANG stocks – Facebook, Amazon, Apple, Netflix and Google. While the group has shown increases this year, only Amazon is up in double digit percentages (28.3%) in 2018.
This story was originally posted on multichannel.com.
