Global on-demand entertainment mastodon Netflix has crossed $100 billion market capitalization, thereby surprising investors and analysts.
Netflix is a listed company in NASDAQ. Their shares have surged 22,000%, and for the first time, they are able to breach the $100 billion market cap mark.
The primary reason for this jump in share prices is steep addition of new subscription. As soon as Netflix announced their 2 million new subscribers, their share prices jumped 9% to reach $248 at the end of Monday’s trading hours.
RIght now, Netflix has 117.58 million subscribers across 190 countries.