Netflix stock surges 16% after Wall Street buys into ad-driven subscriber growth.
n the third quarter, Netflix attracted 8.76 million customers, far more than the 5.49 million experts predicted. Since the COVID-19 stay-at-home limits prompted new sign-ups in the second quarter of 2020, this is the highest increase in subscribers.
Bullish investors in Netflix might think about purchasing the stock at these prices. Netflix is a reputable business with a proven track record of expansion. Additionally, compared to before, it now has less competition from other streaming providers.
In general, Netflix is in a strong position for future expansion. The firm does, however, face significant difficulties, including as increased content costs and growing competition from rival streaming providers.