”I get why the stock is up. I just think people are being shortsighted,“ Wedbush analyst Michael Pachter says
Netflix continued to avoid the stock market’s coronavirus-induced downturn on Monday, with the streaming giant’s share price increasing 7% on the day.
At nearly $397 per share, Netflix closed Monday at its 52-week high — and is within striking distance of its all-time high of $418.97 per share, set during the summer of 2018. Since the beginning of the year, Netflix’s share price is up 20%, while the Dow Jones Industrial Average, which has been rocked by the global economic fallout of COVID-19, is down 19% over that same time span.