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.
-Tomi Kilgore
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March 23, 2023 11:48 ET (15:48 GMT)
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