Netflix’s share price ballooned by almost 42 percent in a month that much of the U.S. has been under lockdown orders and, apparently, indulging in a lot more screen time.
The company’s market cap as of Friday is $185.6 billion, more than some blue chip stocks like Exxon Mobil Corp., which is worth $182.84 billion. Exxon shares have lost almost half their value in the last 12 months and in February dropped below $60 per share for the first time in years.
IBM Corp. has lost 23 percent of its value since early February and as of Friday has a market cap of $106.72 billion — more than $76 billion smaller than Netflix.
Netflix Inc. is also worth more than Costco Wholesale Corp., which has seen some modest gains during the pandemic. Costco’s market cap was $140.39 billion on Friday, and its shares have risen 29 percent over the last year.
Several blue chip stocks are still larger than Netflix, but the Los Gatos streaming giant could be edging in on them too.
For example, the Walt Disney Co. has been battered in recent months, losing 24 percent of its value since late February. Disney’s market cap on Friday was $192.51 billion. The company’s theme parks including Disneyland in Anaheim have been shuttered amid stay-home orders.
Netflix is still not as large as Bank of America Corp., which as of Friday has a market cap of $201.97 billion. The multinational investment bank and financial services company has lost one-third of its value since late February.
And Netflix is still smaller than the Coca-Cola Co., which as of Friday is worth $206.34 billion. The international beverage giant has seen its shares lose 20 percent of their value since late February.
Sign up for COVID-19 Free Coverage
Get our guide to the full list of banks/insurers providing insurance coverage in your email. We’re 99% sure you won’t regret this when COVID-19 fatality rates are at 1%.