Why Netflix Soared to All-Time Highs Yesterday
With so many people staying home during the COVID-19 pandemic and needing to entertain themselves, Netflix (NASDAQ: NFLX) has emerged as an inadvertent beneficiary of the public health crisis. The video-streaming leader posted a massive (if unsurprising) spike in subscriber additions -- more than double what it had expected -- in the first quarter.
While management warned that the surge could potentially represent little more than a pull-forward of demand, investors and analysts remain optimistic about the company's long-term prospects. Shares soared as much as 9.5% yesterday to fresh all-time highs. Here's why.
Image source: Netflix.
Source Fool.com
