Netflix shares rose 13% today after a the market took yesterday off due to the July 4 holiday, closing at $81.72 thanks to the company’s biggest single-day gain since late January. The surge comes a couple of days after CEO Reed Hastings said in a Facebook entry that Netflix’s monthly viewing eclipsed 1 billion hours in June, which BTIG analyst Rich Greenfield calculated would have made Netflix “the 7th most watched network inclusive of broadcast and cable networks (up from No. 15 in Q4 2011). Hastings said the company will “blow these records away” when new original series House Of Cards and Arrested Development arrive. The Street has agreed with the bullish outlook ever since, with shares rising 6.2% on Tuesday when Hastings posted. Today’s gains put Netflix’s stock price up 18% overall in 2012, according to Bloomberg, as a significant company milestone approaches: It was July 12, 2011, that Netflix announced a plan to split streaming and DVD rentals into separate businesses — with a 60% price hike for people who wanted to keep both services. At the time, shares traded close to $300.
Netflix Stock On Rise After Monthly Viewing Data Revealed
Trending Now on Deadline
'Dancing With The Stars' Finale Ratings Hit 4-Season High, 'The Voice' Down, 'Flash' & 'Mindy Project' Even
More From Team
- Jon Lindstrom Joins 'True Detective'; Dan Buran Boards TNT's Drug-Trade Pilot
- 'Unfinished Business' Redband Trailer: Vince Vaughn And Company Invade Europe
- 'Late Late Show' Guest Hosts Include Drew Carey & Judd Apatow Ahead Of Corden Debut
- Richard Linklater To Receive Palm Springs Visionary Award For 'Boyhood'
- MPTF's Night Before Oscar Fundraiser Setting Up Shop On Fox Lot
- Matt Barr Joins TNT's Drug-Trade Pilot; Katie Sarife In 'The Michelle Knight Story'