Netflix, Inc. (NFLX) Shares Hit Record High Of Over $305 A Share

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Netflix, Inc. (NFLX) Shares Hit Record High Of Over $305 A Share
NFLX Photo by Matt Perreault

Netflix, Inc. (NASDAQ:NFLX) shares have hit a new record high today, soaring past the $305 mark. The company’s previous record high was $304.79, which was more than two years ago. Not long after that previous record high though, the company announced its plan to split its video streaming and DVD rental subscriptions.

Netflix, Inc. (NFLX) Shares Hit Record High Of Over $305 A Share

That announcement sent the stock spiraling downward and cost it about 800,000 monthly subscribers, according to Bloomberg’s Andy Fixmer.

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Netflix leads the S&P 500

Shares of Netflix have more than tripled this year and are now leading the S&P 500 Index. They gained 4 percent today, just two days before the next original series from the company will debut. Derek, which stars Ricky Gervais, will debut this week.

Today’s record high for Netflix, Inc. (NASDAQ:NFLX) comes after the announcement that the company had entered into a deal with Virgin Media Inc. (NASDAQ:VMED) to start offering its subscription video service on the company’s cable system in the U.K.

Netflix winning back customers

Since the disastrous decision in 2011, Netflix has done much to win back customers. The company has struck several deals for exclusive content, like exclusive streaming access to The Walt Disney Company (NYSE:DIS)’s and DreamWorks Animation Inc (NASDAQ:DWA)’s movies. The deal for exclusive streaming rights with Disney and Weinstein take effect in 2013. The deal with DreamWorks is beginning very soon. It starts with the release of Turbo, which came to theaters in July.

Also Netflix’s original series snagged 14 Emmy nominations, including a nod for Best Drama for House of Cards, a political thriller. House of Cards alone grabbed nine of Netflix’s Emmy nominations. Arrested Development received three Emmy nominations, while Hemlock Grove got the other two.

Netflix, Inc. (NASDAQ:NFLX) now boasts 38 million subscribers in 40 different countries and makes up almost a third of all North American Internet traffic. Today’s stock price brings Netflix’s market capitalization up to $18.09 billion.

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