Netflix Enjoys Major Stock Market Surge During COVID-19 Pandemic

It looks like business is better than ever for Netflix during this COVID-19 pandemic.

According to a report by CNBC, Netflix's shares are going on a major surge now that everyone's forced to stay at home to prevent the spread of the novel coronavirus. The streaming giant is now enjoying a 7% market share raise, allowing Netflix to reach a 52 week-long high that comes at a $400.51 price per share.

This shouldn't come as a surprise to fans. Netflix has become more and more in demand now that lockdowns and quarantines have been put in place. Investors have been flocking towards the stocks offered by streaming sites, the largest of which is, of course, Netflix.

Late in March, Investment banker William Blair predicted that the streaming giant would see a major increase in subscribers thanks to COVID-19. Of course, Blair ended up being right. The pandemic has been opening doors for streaming sites like Netflix, Amazon, and Disney+. These sites are usually considered as a luxury for people who are trying to cut back on their expenses marked for entertainment.

Of course, Netflix wasn't the only one to enjoy better business during the COVID-19 pandemic.

Amazon has also seen a surge in users looking for ways to get supplies and groceries while in the middle of lockdowns and quarantines.

It's interesting to see companies enjoying better business despite the novel coronavirus outbreak. COVID-19 has done a lot of damage to the economy, and everyone can feel it. We can only hope for a vaccine to arrive soon.

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