Netflix Shares Surge to All-Time High on Latin America, Carribean Expansion

Company will expand to 43 countries in Latin America, Carribean

Netflix stock surged to an all-time high Tuesday on news that the company will expand to stream videos to 43 countries in Latin America and the Carribean later this year.

As of 10:37 a.m. ET Monday, the company's shares had gone up 5.41 percent to trade at an all-time high of $282.49.

The service, which became available in Canada last year, has stream videos in the U.S. since 2007. Videos in Mexico, Central America, South America and the Caribbean will be able to watch American, local and global TV shows and movies right on their TVs in Spanish, Portuguese, or English.

Netflix, which has offered U.S. streaming since 2007, began offering the service in Canada last year. The company has 23 million members in the two countries.