Netflix Adding $4.7 Billion To Market Cap As Stock Soars Toward Record High

By Tomi Kilgore Markets MarketWatch Pulse

Shares of Netflix Inc. soared 8.2% toward a record high in premarket trade Thursday, in the wake of a strong fourth-quarter report, which would add about $4.66 billion to video streaming company's market value. Based on Wednesday's closing prices, that would push Netflix up eight spots in the S&P 500's market-cap rankings to 78th, according to FactSet data. The stock's rally means Chief Executive Reed Hastings's Netflix stake, which at 5.86 million shares ranks him 13th among shareholders, according to FactSet, could be worth $63.7 million more. The stock has run up 24% over the past 12 months through Wednesday, while the SPDR Technology Sector Sector ETF has climbed 26% and the S&P 500 has gained 21%.

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