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By November 21, 2024, streaming trailblazer Netflix (NASDAQ: NFLX) appears to have left its old stock market woes – woes that severely threatened the company in 2022 as share prices fell from nearly $700 to under $200 – far behind. Much of the company’s growth since the start of the year was driven by the rollout of new products and features, with the ad-supported subscription tier perhaps being the most impactful development. In total, NFLX shares are up 80.80% in the green year-to-date (YTD) to their press time price of $881.47 – essentially the latest in the string of all-time highs (ATH). NFLX stock YTD price chart. Source: Finbold Additionally, Netflix crowned its all-year success with one of the most successful sports events in the history of streaming: the fight between the legendary Mike Tyson and internet personality Jake Paul. Netflix gains $25 billion in the wake of Tyson-Paul fight The fight – which ended in a victory for the 27-year-old influencer over the 58-year-old boxer – drew an impressive crowd, which Netflix reported at record-breaking 108 million viewers from every corner of the world. The event was, in fact, so watched that numerous server issues with reported and it even generated a lawsuit over reported problems in accessing the stream. Despite the technical mishaps, investors reacted positively, and NFLX shares rocketed from their November 15 closing price of $823.96 to their press time price of $881.47 – a 6.98% rise. The fight took place on Saturday, November 16. The massive inflows enabled Netflix to grow its market capitalization by about $25 billion, and the streaming giant is valued at $377.59 billion at press time on November 21. NFLX market capitalization chart since November 14, 2024. Source: macrotrends Analyst sees NFLX shares at $1,100 if it rides the sports wave…

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Filed under: News - @ November 21, 2024 4:25 pm