Netflix stock price surges to all-time high
The Netflix stock price made handsome gains in the US stock market, as its stock price surged to an all-time high rate of $427.77 per share when markets opened Wednesday morning in the US. Netflix stocks saw a rise of 3.5% over the previous day's close. The surge in stock prices can be attributed to the exponentially high numbers of people turning to Netflix for entertainment, as they shelter at home amidst
Coronavirus stay-at-home measures adopted across the world. Netflix's new stock price high beat its previous all-time high of $423.21 per share, back in June 2018.
Top analytical companies tracking the fortunes of the various OTT platforms have reported that streaming services have never had it so good before. Almost all streamers have reported an uptick in viewership and subscriber base, both in India and worldwide, as a result of being cooped up at home with digital entertainment being the only source of entertainment for millions of people.
Additionally, Netflix's new true-crime docuseries, Tiger King: Murder Mayhem and Madness, has spurred viewers towards the streaming platform in droves. The crime documentary, that recounts the whole sordid saga that led to eccentric zoo owner Joe Exotic's downfall and jailing, has become the most-watched show on Netflix in recent times, beating even Stranger Things in a number of viewers in the first week of streaming.
Of course, Netflix's high quality content, with its mind-boggling diversity of genres, and returning shows, such as Money Heist and Ozark, have a lot to do with Netflix emerging as the most-watched streamer in the midst of the Coronavirus outbreak.
Since the uncontrolled spread of the pandemic, and from the time people were mandated to shelter at home, Netflix's stock price has risen almost 40% in the US stock markets.