Netflix stock traded at about $439 per share reflecting a 3% increase , this brought the market capitalization to about $183 billion at market close. Exxon Mobil on the other hand fell more than 3% to $39.15 per share, which brought the market value of the oil giant to about $175 billion at the close of market.
The novel Coronavirus pandemic is the gift Netflix never thought it needed. The widespread total and partial lockdown has led to a surge in the use of certain applications such as Zoom , Amazon and of course, Netflix.
The video streaming giant has through the production of original and gripping shows that have since developed cult following such as “Tiger King”, “Money Heist”, “Love is Blind” among other shows, held users down. Video streaming apps have generally been positively impacted. Amazon Prime and Disney+ have also recorded increase in subscription. Even the newcomers like Quibi are recording unexpected growth.
