Netflix sees all-time highs following Biden’s inauguration
January 20, 2021, will be remembered as the day Joe Biden was named the 46th president of the United States. New all-time highs post by several companies during the day will remain in the background, particularly as in recent years we experience wild upwards exceeding previous record highs more often than ever.
The reality is that Joe Biden saw the largest post-inauguration rise in the markets, surpassing President Herbert Hoover after the 1928 elections with a rise of 13,3%.
Despite the general increases of the day yesterday, we can say that one of the main leaders was Netflix, as it experienced a strong rise of more than 17%, up to 589.09 dollars per share, exceeding both its lateral range and its previous resistance in the green leading this company to overcome the barrier of 30,000 million dollars of market capitalization.
Source: Admiral Markets MetaTrader 5. Netflix daily chart. Data range: from October 16, 2019 to January 21, 2021. Prepared on January 21, 2021 at 12:00 CET. Keep in mind that past returns do not guarantee future returns.
These results showed that Netflix surpassed 200 million subscribers for the first time with an increase of 8.5 million during the last quarter of the year despite increased competition with platforms such as Amazon Prime Video, Disney + and HBO.
Price evolution of the last 5 years:
- 2020: 67.11%
- 2019: 20.89%
- 2018: 39.44%
- 2017: 55.06%
- 2016: 8.24%
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