Shares of company surge 6% on Monday
Take that, big film studios. Shares of Netflix (NFLX) surged 6% Monday, a day after the company took home five Golden Globe awards for movies and television.
The stock is now up 18% this year, easily making it the best performer of the FAANG tech companies.
Facebook (FB), Amazon (AMZN) and Alphabet (GOOGL) are all up single digits this year. Apple (AAPL) is down nearly 7%.
Netflix has been on a hot streak as investors salivate about the prospects for more big gains in subscribers, revenues and profits this year — even as some are concerned the company continues to spend billions of dollars on new content.
Those bets seem to be paying off, though. Netflix will wind up adding more subscribers in the US than Wall Street is expecting, Piper Jaffray analyst Michael Olson predicted in a report Monday based on an analysis of search trends for Netflix on Google.
Sure, some analysts are worried that Netflix could lose some momentum as Amazon and Apple invest more in their own original content and Disney (DIS) launches its own streaming rival.
But for now, Netflix has all the buzz.
Just look at how much people have been talking about the choose your own adventure episode of “Black Mirror” and the Sandra Bullock thriller “Bird Box” on social media.