Netflix Stock Hits Record High Since 2021

The Netflix stock did hit five-month highs in 2021 as part of a giant comeback run by the streaming company. The stock closed at $698.54, way above the previous peak level of $691.69, dating back to November 17, 2021. That is following the increase in value taken by the stock 1.5% on Tuesday off the back of an announcement by Netflix that upfront ad commitments were now up 150% year-on-year, further underlining just how well that new tier in place is doing.

Shares more than tripled from the May 2022 low and are back near the pre-pandemic high, trouncing all major publicly traded streamers. In that time, Disney+ is down 56% from its 2021 peak. Max is down 90%, and Paramount+, down 89%. This, in turn, underlined the fact that though the service of Comcast, which is Peacock, belonged to Netflix's business category, this was down 35 percent and Spotify was off 11 percent. They are both different kinds of business from Netflix because the core model business of the companies differs altogether.

The Netflix stock dramatically underperformed even the whole market since then. Indeed, while the S&P 500 is up by 25% from its trough in November 2021, Netflix shares perched right now stand just 1% higher. Netflix's market capitalization sat just a smudge below the $300 billion mark as the last session came to a close, above Disney Inc. and alive competitors—Paramount, Spotify, and Warner Bros. Discovery—turned in.

It clawed back a bruising 2022 as its subscription line dropped from last year for the first time since 2011, and its market value slid 50% in April. The ad tier, which was launched in November, partly fueled new subscription growth alongside the crackdown on password sharing. Netflix had record quarterly revenues approaching $10 billion and worldwide subscribers soaring to a new record of 278 million.