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Netflix closes above $300 billion market-cap threshold for the first time

Economy, Finance

Netflix Inc. finished with a market capitalization above $300 billion for the first time Friday. Shares of the streaming company rose 2.41% in Friday trading to $690.31, implying a market value of $305.7 billion based on the share count of 442.9 million that Netflix disclosed in its September-quarter 10-Q filing. Netflix is now the 20th largest company in the S&P 500 by market cap, according to Dow Jones Market Data. Though shares dipped immediately after the company reported a largely in-line quarter Oct. 19, they’ve risen in five of the seven trading sessions since. Netflix shares have added 15% over the past month, as the S&P 500 has increased 4%.

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