Netflix Stock Rises 6% Following Five Golden Globes Wins
Shares of Netflix jumped 6% Monday after the company took home five Golden Globe Awards on Sunday night. The streaming giant won Golden Globe trophies in major categories for Alfonso Cuarón’s ‘Roma’ and Chuck Lorre’s comedy ‘The Kominsky Method.’
The rise in Netflix’s stock, which closed at $315 per share, outpaced a slight uptick in the overall market. Also Monday, Piper Jaffray analyst Michael Olson issued a report predicting Netflix will beat Wall Street expectations for U.S. streaming-subscriber additions for the fourth quarter of 2018. Olson points to “directionally positive” domestic growth, “showing a high likelihood of a strong Q4 for Netflix domestic sub adds, with in-line int’l subs.”
Investors similarly rallied behind Netflix’s stock on Friday, when shares closed up 9.7% to $297 per share, helped by a bullish call from Goldman Sachs. However, the company’s shares are still well below their $400-per-share highs in 2018.