Netflix is the king of Hollywood — and Wall Street - CNN CNN - Tue 8 Jan 02:26 GMT
Take that, big film studios. Shares of Netflix surged 6% Monday, a day after the company took home five Golden Globe awards for movies and television.
The stock is now up 18% this year, easily making it the best performer of the FAANG tech companies.
Netflix has been on a hot streak as investors salivate about the prospects for more big gains in subscribers, revenues and profits this year — even as some are concerned the company continues to spend billions of dollars on new content.
Netflix will wind up adding more subscribers in the US than Wall Street is expecting, Piper Jaffray analyst Michael Olson predicted in a report Monday based on an analysis of search trends for Netflix on Google.