Netflix is almost 3 times bigger than it was a year ago
Read the excerpt from my article on AlphaStreet News below
Netflix is on a roll. The stock is two-and-half times what it was a year ago. And the latest AT&T merger news just gave it another push. The cable killer traded 4.43% higher at yesterday’s close of $379.93. That’s a whopping 149% hike from last year’s close of $152.72.
As AT&T (T) enjoys their legal victory in the merger case, it has now set the premise for more competitive bidding and market success for others.
Shortly after the news broke, Time Warner (TWX) was trading up 3% higher, and AT&T is down by about 4%. The verdict essentially allowed for an unconditional vertical merger consequently opening the market for other deals as well.
And this was seen shortly after, as 21st Century Fox (FOXA) shot up 7.3% amidst its rising demand by Disney (DIS) and Comcast (CMCSA). Disney was up 3.28%, while Comcast inched 0.63% higher.
Related: Will Comcast win the bidding battle against Disney and grab Fox’s assets?
Now what’s interesting is how Netflix (NFLX) will play its cards. When it comes to original content and streaming, it is still the undisputed champion.
While the week was already looking positive, what really lifted the streaming giant was the Goldman Sachs — it raised the NFLX price target by $100 to $490.
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