Netflix is not suffering from the coronavirus crisis. Shares in the streaming company are on the rise, even though the stock market is falling amid growing fears about the epidemic. Netflix shares have risen by around 5 % this week, up to this Thursday 27 February, while the S&P 500 index, which brings together the 500 biggest US listed companies, was down by around 5 %. The index is currently on course for its worst weekly fall since the 2008 financial crisis, after fresh warnings from the US Centers for Disease Control and the World Health Organisation suggested that the coronavirus was becoming a very real threat to Western countries.
Netflix could be immune to the blow to other stocks, so far, because investors think an epidemic could encourage people to spend more time at home - and watch the streaming service. Netflix shares continued to rise on Thursday afternoon. The stock was trading up 2 % at around $387 at around 7pm (Paris time). Other media stocks, including Comcast, Disney, Discovery, Fox and Roku, fell on Thursday afternoon. The Dow Jones Industrial Average and the S&P 500 were both down around 2 %.
The rise in Netflix shares also comes despite the increased competition the platform is facing from new streaming services such as Disney+ and Apple TV+, and soon-to-be-launched platforms led by Peacock and HBO Max.
Netflix shares have risen by almost 18 % since the start of the year, while the S&P 500 has fallen by around 4 %.
Original version : Ashley Rodriguez / Business Insider
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