Netflix stock rallies toward best gain in 5 months, leads S&P 500's gainers
Shares of Netflix Inc. (NFLX) powered up 9.1% in midday trading Thursday, enough to pace the S&P 500's gainers, and putting them on track to close at the highest price for the month. The video streaming giant stock was also headed for the the biggest one-day gain since it ran up 13.1% on Oct. 19, 2022. While the stocks of other companies with leading streaming services were also rising, Netflix's stock outperformed them by a wide margin. Shares of Apple Inc. (AAPL) advanced 1.7%, Walt Disney Co. (DIS) climbed 1.8%, Amazon.com Inc. (AMZN) rallied 1.6% and Paramount Global (PARA) gained 2.6%. However, they all outperformed the S&P 500 , which tacked on 1.4%. Separately, The Wall Street Journal reported that New York lawmakers are considering a sales tax on streaming services, such as Netflix, to raise money for the Metropolitan Transportation Authority so fares on New York City subways wouldn't have to be raised.
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
March 23, 2023 11:48 ET (15:48 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.