Why Shares of Netflix Were Climbing Higher on Wednesday
Netflix (NASDAQ: NFLX) saw its stock price climb 2.8% on Wednesday to close at $224 per share. The streaming-service stock jumped as high as 4.6% at around 1:15 p.m. ET before settling in with a modest gain at the closing bell.
It was a positive day overall on Wall Street, as the Dow Jones Industrial Average was up 30 points, the S&P 500 was up 13 points, and the Nasdaq was up 86 points.
Netflix made some news Wednesday related to its upcoming launch of its ad-supported tier. The Wall Street Journal reported Wednesday afternoon, citing a document that Netflix shared with its ad buyers, that it plans to reach 40 million viewers globally with its ad-supported tier by the third quarter of 2023. The stock price shot up shortly after the article was published.
Source Fool.com
