Netflix Tops Record as Hastings Recovers From 2011 Gaffes
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Netflix Inc. eclipsed its all-time high set in mid-2011, capping a two-year recovery for Chief Executive Officer Reed Hastings from marketing missteps that angered customers and cratered the stock.
Netflix, which has more than tripled this year to lead the Standard & Poor’s 500 Index, gained 6.4 percent to $313.06 at the close in New York. The previous closing high of $298.73 was set on July 13, 2011. A day earlier, Netflix had raised prices for users who wanted DVDs and streaming -- triggering a backlash that cost the service 800,000 subscribers.