Netflix Powers Through Volatility to Set New 52-Week High Monday
LOS GATOS, Calif. – Netflix Inc (NASDAQ: NFLX) stock demonstrated notable strength in Monday morning trading, overcoming early session weakness to establish a new high point for the past 52 weeks.
As of 11:04 AM GMT-4 on April 29th, the streaming media company’s shares were trading at 1,112.45 USD. This price reflected a gain of +2.07 USD, or 0.19 percent, compared to the previous closing price of 1,110.38 USD.
The key highlight of the session thus far was the stock reaching 1,116.40 USD, setting a fresh 52-week high. This achievement came after a volatile start; Netflix opened at 1,103.92 USD and dipped to an intraday low of 1,095.48 USD before mounting a significant rally that pushed it to the new peak. The stock has since pulled back slightly from that session high.
This new high significantly distances Netflix from its 52-week low of 544.25 USD. The company currently trades with a Price-to-Earnings (P/E) ratio of 52.56. As per the data, Netflix does not provide a dividend yield to its shareholders.
Market participants are closely watching Netflix’s share price movement after it successfully tested and surpassed its previous yearly highs.
