Netflix shares rise past $300 ignoring market volatility

Stocks of the company continue to rally despite the lack of any big news

(FILES) In this file photo taken on March 1, 2017 the Netflix logo is pictured during a Netflix event in Berlin. 
Traditional television titans are bulking up in a battle with online streaming giants Netflix and Amazon as viewers take to binging on shows when and where they want. The latest evidence was the surprise move this week by US cable giant Comcast to outbid Rupert Murdoch's 21st Century Fox for pan-European satellite TV group Sky with an all-cash offer valued at more than $31 billion (25 billion Euros).
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Trade wars? Higher interest rates? It doesn’t matter to Netflix.

In a week that saw volatility spike and the Dow Jones Industrial Average shed 1,100 points over three days, Netflix continued to rally despite the lack of any big news.


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The shares quietly rose more than 5 per cent on the week, closing at yet another record.

Netflix has now added more than $47 billion in market value this year on the way to an S&P 500-leading gain of 57 per cent. That’s more than the market capitalisations of CBS Corporation and Viacom combined.