Netflix (NASDAQ:NFLX) Passed Disney’s Market Cap for a Moment and Faded
A close over 354/share will make Netflix the World’s #1 Entertainment company by market cap.
Thursday, Netflix’s (NASDAQ:NFLX) stock market value hit $153-B passing the Walt Disney Co. (NYSE:DIS) making it the world’s top entertainment company (for a moment) underscoring a monumental shift by viewers away from cinemas and cable television.
Since Netflix’s IPO in Y 2002, when it was a mail-order DVD service, its stock has surged nearly 33,000%.
It has also become a must-own FAANG stock for Wall Street investors, alongside Apple (AAPL), Amazon.com (AMZN), Alphabet (GOOGL) and Facebook (FB).
Disney, with a stock market value of $152-B Thursday, is starting its own streaming service for families, and it has said it will stop supplying new movies to Netflix starting next year
Investors are bullish on Netflix’s ability to add more members and are paying high prices to own its stock. Netflix recently traded at 98X expected earnings for the next 12 months, versus Disney and Comcast at 14X earnings, according to Thomson Reuters data.
Netflix finished Thursday at: 350.60, +5.88 , or +1.50%, at close: 4:00p EDT market cap $151.8-B at the close.
|NASDAQ:NFLX||350.6||24 May 2018||5.88||344.34||354||341.12||12,658,830|
|HeffX-LTN Analysis for NFLX:||Overall||Short||Intermediate||Long|
|Bullish (0.39)||Bullish (0.38)||Bullish (0.45)||Bullish (0.33)|