Why Netflix Stock Popped Today
On a mixed day for the stock market, with the Nasdaq up but the Dow down in midmorning trading, Netflix (NASDAQ: NFLX) is doing its best to turn things around, and is heading higher -- up a respectable 4.4% as of 10:20 a.m. ET.
And streaming is the reason.
Not just any old streaming, either. Netflix stock popped today specifically because its prospects of making a "go" of its planned new ad-supported streaming business got a boost today, when Netflix reportedly poached two top executives from social media star Snap (NYSE: SNAP). As The Wall Street Journal reports, Netflix has snapped up both Snap's chief business officer, Jeremi Gorman, and its vice president of sales for the Americas, Peter Naylor. Beginning next month, Gorman will serve as Netflix's president of worldwide advertising, while Naylor will become vice president of ad sales.
Source Fool.com
