Netflix (NFLX) Reached New All-Time High By Growing More than 8% in A Day

Netflix's stocks continue to steadily grow and to set a new all-time high after an 8% rise in a single trade session.

Image source: unsplash.com

Rapid rally of technology companies’ shares continues and today Netflix sets a new record: the company's stocks rose by more than 8% in one day, their price exceeded $550, and set the new all-time high.

Image Source: TradingView NFLX

Jamin Ball, a VP of Redpoint, notes that contrary to analysts' expectations, Netflix's shares have not lost their positions due to increased competition in the market of streaming services and its price is up by 60% since January, which is an astonishing result.

Image Source: Twitter @jaminball

Moreover, Goldman Sachs raised the Netflix's target price from $540 to $670, noting that there are extremely promising growth prospects after the publication of reports for the second quarter.

Ross Gerber, a co-founder and a CEO of Gerber Kawasaki advisor, also pointed out the growth rate of Netflix quotes and believes that the rally will go on.

Image Source: Twitter @GerberKawasaki

He also believes that during the pandemic Netflix became one of a few companies that were able to turn the situation in its favor and that is why digital saving currently dominates the exchange, pulling money from all other industries.

Image Source: Twitter @GerberKawasaki

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Usman Salis E-mail

Usman has been in the blockchain space for 9 years and written dozens of articles about crypto in his career. He wants to put crypto on the global map.