Weekly Stock Spotlight
Featured Stock of the Week: Netflix
- Ticker Symbol: NFLX
- Founded: August 29, 1997
- Market Cap: $68.25B 2016
- Rev.: $8.83B
- Founders: Reed Hastings, Marc Randolph
- Chairman, CEO: Reed Hastings
- Chief Content Officer: Ted Sarandos
- HQ: Los Gatos, California
Word on the Street: Billionaires are buying Netflix. Last quarter, they bought 487K shares.
1. Chase Coleman has a $63M stake in Netflix.
2. George Soros has a $20M stake in Netflix.
3. Leon Cooperman has an $11M stake in Netflix
Netflix at a Glance:
If you haven’t heard of Netflix by now, you’ve been living under a rock! This video streaming giant arguably created and now dominates a relatively new genre of online entertainment. Netflix, which started out as a postal DVD service similar to now defunct Blockbusters and who now has over 98 million subscribers worldwide, has experienced phenomenal growth over the past decade and has created a world of on-demand tv like never seen before!
Netflix’s main draw now comes from its own original content, which attracts renowned hedge fund investors like George Soros and more. Netflix plans to release over 1,000 hours of original content in 2017 which will cost them over $6B to produce, giving us all plenty of future material to binge watch. Someone pass the popcorn!
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