Netflix’s stock is now higher than before the coronavirus hit the U.S.
As coronavirus keeps people indoors, Netflix’s weakness — its total reliance on streaming memberships for revenue — has become its strength as it hit a two-year high in the market on Tuesday while other media companies fret over lost advertising dollars and shut movie theaters.... [+]The stock closed at more than $413 per share, its highest price since July 2018.saw a spike in new subscriptions
once social distancing measures were introduced across the country, according to data from streaming analytics firm Antenna. Roku, which also got a boost in the market today, announced Monday that it saw a 49% year-over-year increase in streaming between January and March. Netflix was not always immune to coronavirus’ effects — it dipped in the market in mid-March, briefly falling under $300 per share.
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