Money Streams Into Netflix Stock

Shares of Netflix stock gained 22 percent on Thursday, the biggest one-day turnaround for the company in two years.

By Chris Roberts
|  Thursday, Jan 26, 2012  |  Updated 3:12 PM PDT
View Comments (
)
|
Email
|
Print
Money Streams Into Netflix Stock

Netflix appears to be recovering from its PR disaster last year.

advertisement

The money's back on streaming at Netflix.

The Internet movie rental company's stock earned 25 percent during trading on Thursday, regaining most of the value it had lost last fall when it lost 800,000 subscribers, according to the San Jose Mercury News.

Shares in the company sold at $116.01 on Thursday, a gain of $20.97, or 22.1 percent, the biggest one-day gain for the company in two years, according to Bloomberg News.

Netflix stocks sold at $300 over the summer, the newspaper said, but had dipped under $100 after Oct. 24.

The company lost customers and most of that $300 value after it announced that it was hiking its prices and separating its streaming movie and TV-viewing service from its by-mail rental service. The price hike stood, but the spin-off was canceled, which may have helped win some customers back.
 

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
Bay Area Proud
Bay Area Proud is NBC Bay... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out