Netflix’s Investors Like Its Chances Against the Pricey HBO Max
- The shares rally after AT&T unveils rival streaming product
- HBO Max will cost $15 a month, compared with $13 for Netflix
Photographer: Jason Alden/Bloomberg
This article is for subscribers only.
Netflix Inc. investors are downplaying the threat from the just-unveiled HBO Max, an AT&T Inc. service with an impressive array of programming but a higher price.
Following an AT&T event on Tuesday showcasing HBO Max, Netflix shares surged. The stock climbed as much as 4.4% to $293.49 on Wednesday, marking the biggest intraday gain since Oct. 17, the day after Netflix’s latest earnings report.