Note

April 15, 20 - 2:25 pm - LABS

For now, Netflix’s stock worth more than Disney

This Wednesday Netflix‘s stock reached its higher value, making the company surpass Disney as the most valuable entertainment company in the business.

According to Variety, after three days of investors rally, the company’s stock was up over 3% in morning trading, reaching a peak of $430 during the session. At the beginning of this afternoon, with its stock priced at $428.93 (a 15% rise) has a market capitalization of $188.31 billion.

At the same time, Disney’s shares went down 2.5% this Wednesday morning. Now, at $104.20, Disney has a market capitalization of $188.13 billion.

Analysts reading is that Netflix should benefit from the COVID-19 crisis, from millions of people under stay-at-home orders. Disney, on the other hand, suffers with the closure of its physical operations and also the postponement of major cinema productions.