Netflix Bigger than Ben Hur
Netflix’s shares shot up on Friday, with many analysts predicting the share price will hit US$200 (A$257) or higher by this time next year.
Much of the bullish forecasts is coming from the media company’s recent decision to raise prices for streaming-video customers around the globe – including Australia.
The stock gained almost 1.9 percent to close at just over $198. Netflix’s market capitalisation, which ended Friday at $85.5 billion, is bigger than Time Warner’s market value, which sits at $80.3 billion.