Why Netflix Stock Soared This Week
Shares of Netflix (NASDAQ: NFLX) outperformed a rising market this week. The stock jumped 18% through Thursday trading, according to data provided by S&P Global Market Intelligence, compared to a 3.5% surge in the S&P 500. Shares remain in deeply negative territory so far in 2022.
This week's rally was sparked by a well-received earnings update from the streaming video giant's management team.
Netflix issued its second-quarter earnings results on Tuesday afternoon, and the announcement allowed investors to breathe a collective sigh of relief. Expectations were low heading into that report after the company projected 2 million subscriber losses.
Source Fool.com
