By Dade Hayes Finance Editor Netflix shares ended the week on a down note, declining almost 2% Friday to close at $429.32, but a Wall Street analyst reaffirmed his “buy” rating and said the company has “plenty of subscriber runway.” The streaming stock has declined for five straight sessions, its longest such streak since February.
Amid the downturn, on Tuesday, it established a record high of $458.97. In a turbulent market, it has fared much better than media shares, rising 30% in 2020 to date.
Netflix reported in April that global subscriptions jumped by 16 million in the first quarter as a result of widespread stay-at-home orders due to COVID-19.
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