The holidays are over, but Netflix has given its shareholders a belated holiday gift, hitting a new all-time high of $205.05 per share as markets closed on Wednesday.
The streaming heavyweight climbed 2 percent on the day — carrying over momentum from Tuesday, when shares jumped nearly 5 percent from about $192 to more than $200. Coinciding with Netflix’s run was the company announcing it would bring back Will Smith for a sequel to the much loved, and loathed, original movie “Bright.” Director David Ayer will also return for the second sci-fi flick, which sports a 28 percent approval rating from critics on Rotten Tomatoes, juxtaposed against an 88 percent audience score.
But as the Wrap noted earlier, that dragging only seemed to make “Bright” shine more; it’s the streaming service’s highest-viewed original film ever in its first week of release and one of the biggest originals (including sequels/additional seasons) Netflix has ever launched, the streaming service said.
Netflix had previously climbed above the $200 mark back in October, after Wall Street gave a thumbs up to the company raising its subscription prices. The Los Gatos, Calif.-based company had hit a swoon to close out 2017, falling to the mid-$180 price range. But with Netflix reporting earnings later in January, some investors still see room for it to run.
“We’re still very much in an uptrend,” Craig Johnson, chief market technician at Piper Jaffray, told CNBC on Wednesday. “We could see a measured move up to $230 on Netflix.”