Netflix Stock Surges to Record High

Tony Maglio
The Wrap
Netflix Stock Surges to Record High

Netflix stock hit an all-time high Tuesday of $311.63.

The increase of more than 5 percent from yesterday’s close comes in the wake of a Monday deal announcement between the company and Virgin Media, in which the cable company will roll out a Netflix app to its 1.7 million U.K. TiVo customers.

The deal brings Netflix to a pay-TV platform for the first time.

Also read: Netflix Gets Bloomberg Businessweek Films’ First Documentary

Also on Monday, Netflix said it would exclusively launch the Bloomberg Businessweek documentary, “HANK: Five Years from the Brink” on Sep. 16. The film, which acknowledges the five-year anniversary of the Lehman Brothers collapse and subsequent bank bailout, features a one-on-one with former U.S. Treasury Secretary Henry Paulson.

“HANK” is Bloomberg Businessweek Films’ first documentary.

Netflix’s stock was not always an optimistic buy. Just a year ago today, it was down to $55.92 per share.

The stock surge represents another benchmark in the turnaround of a company that a year ago was thought to be in deep trouble. Though given its well-received original content and impressive list Emmy-nominations — 14 in all — Netflix is now only considered trouble to its traditional TV competition.

“House of Cards” is nominated for nine Emmys itself. “Arrested Development” garnered three.

The post Netflix Stock Surges to Record High appeared first on TheWrap.

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