Netflix stock finishes up 8% at record high
Shares of Netflix Inc.
continued their torrid record pace Friday, closing up 8% to $548.73. The streaming service, expected to announce yet another strong quarter on July 16, has been one of the top-producing tech stocks since the COVID-19 outbreak in March. Netflix's closing price gave it a valuation above those of rivals Walt Disney Co. DIS, +2.16%, AT&T Inc. T, +1.99%, and Comcast Corp.
Netflix shares have also benefited from glowing market research notes in recent days, topped by Goldman Sachs' prediction of its price reaching $670 per share. Netflix shares are up 70% in 2020, while the broader S&P 500 index SPX, +1.04% is down 1.4%.
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