Netflix stock has been gaining this week following a report from Ericsson noting that mobile data traffic could jump 10 times by 2021. On Wednesday, the stock closed up 3.01% at $120.63.
Rise in mobile traffic good for Netflix
As per the report, 70% of the total mobile traffic will be video, compared to 50% estimated earlier. Though YouTube will account for the 70% of the total video traffic on majority of the mobile networks, Netflix could hit 20% in the regions, where it operates.
It's no secret that this year has been a volatile one for the markets. The S&P 500 is down 18% year to date, while the Nasdaq Composite is off by 27% year to date. Meanwhile, the VIX, a key measure of volatility, is up 49% year to date at 24.72. However, it has spiked as Read More
Another report that pushed Netflix stock up came from Australia. According to Australian Communications and Media Authority, 2.5 million users subscribed Netflix in the first six months of 2015. As per the report, 3.2 million or almost 17% Australians used the streaming service in the period, of which 78% used Netflix’s service.
Netflix presents an impressive growth opportunity, says Zacks. The U.S. firm is aggressively expanding overseas with a focus on emerging markets now. The streaming firm plans to expand to 200 countries by 2016, and presently, covers 50 countries (excluding the U.S.), inc