Netflix stock RISES despite global economic recession fears after suggestions people quarantined amid coronavirus concerns will use the streaming service to pass the time
The price of Netflix stock rose .08 per cent this week as coronavirus concerns wiped nearly $3 trillion off the combined market value of S&P 500 companiesNetflix could see a short-term benefit, since people who are quarantined, or workers staying home to avoid infection, will need to watch somethingFacebook, Amazon, Peloton and Slack also may see an uptick as people waiting out the outbreak rely on more heavily on the internetThe outbreak already has mobile gamers busy in China, as the gaming industry there reports a spike in usage levels of the most popular games
Netflix stock actually got a bump this week as the rest of the world’s markets were taking a dive over coronavirus concerns.
The price of Netflix stock rose .08 per cent over the past five days, as analysts say they see the virus delivering a short-term benefit to streaming services.
Their reasoning is that people who are forced into quarantine, or workers who stay home to avoid infection, will need to watch something to pass the time.
The price of Netflix stock rose .08 per cent this week as markets took a plunge over coronavirus concerns
Analysts say that coronavirus concerns may benefit streaming services like Netflix, because people who are quarantined, or who stay home to work to avoid infection, will likely need something to watch to pass the time
‘Netflix is an obvious beneficiary if consumers stay home due to coronavirus (COVID-19 virus) concerns, and this has been reflected in considerable stock price outperformance this week,’ BMO Capital Market analyst Dan Salmon wrote in a research note, reports Variety.