Netflix Stock Gained 21.4% Last Month. Here's How.
Is Netflix on track for a long blockbuster run? Check out what's fueling investor excitement about the media-streaming veteran right now.
Shares of Netflix (NASDAQ: NFLX) rose 21.4% in April, according to data from S&P Global Market Intelligence. You might expect the company's impressive earnings report to provide fuel for these fires. It sure didn't hurt the stock that the first-quarter numbers were strong, but the report barely moved Netflix's stock price at all. Instead, investors pushed shares higher on the basis of rumors, leaks, and lofty expectations.
Heading into the earnings report, The Wall Street Journal got hold of some internal Netflix memos that supposedly outlined the company's long-term goals. According to the notes, management aims to double its annual revenue and triple its operating income over the next five years.
As a result, the stock could also double and qualify Netflix for the ultra-exclusive club of trillion-dollar market caps. This scoop boosted its stock price by 4.8% in a single day.
