The Big Red N is flexing its power. Netflix shares zoomed to new all-time highs Wednesday, to nearly $1,000 per share, after the streaming giant posted strong Q4 subscriber additions and announced a series of new price hikes.
Netflix stock opened at $997.66/share Wednesday, up 15%, giving the company a market capitalization of more than $420 billion. After market close a day prior, Netflix reported 18.9 million net new global subscribers — nearly double analyst expectations — to reach 301.6 million. It also announced fee hikes in the U.S. and other key markets, including on its ad-supported entry-level tier, demonstrating its pricing power.
Wall Street analysts marveled at Netflix’s quarterly report — the final one for which it will report subscriber numbers — and many raised their price targets on the stock. In announcing the Q4 earnings,…
