The Netflix Empire Strikes Back
This should've been a brutal month for Netflix (NASDAQ: NFLX). The Nov. 1 launch of Apple's (NASDAQ: AAPL) premium video platform and Disney (NYSE: DIS) following suit 11 days later -- both at price points well below Netflix's -- was supposed to send its subscribers scrambling to the cheaper and shinier services.
A funny thing has happened on the way to Netflix's demise. Netflix moved higher for six consecutive trading days from two days after the Nov. 12 debut of Disney+ through Thursday's close. Netflix shares have risen 10% through those six trading days, no small feat since the S&P 500 has actually closed lower in each of the past three market days. With Netflix stock up 8% in November and up 16% for all of 2019, this hasn't played out as the month or the year that destroyed the top dog in this niche. Netflix is back, and some will argue that it never really went away.
Image source: Netflix.
Source Fool.com
