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Netflix’s ‘Seinfeld’ Rally Doesn’t Leave Much Room for Error
- Shares have recently spiked despite remaining a 2021 laggard
- User trends follow last year’s pandemic-fueled acceleration
Photographer: Margaret Norton/NBCU Photo Bank/Getty Images
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Netflix Inc. is back in favor, but many investors are skeptical that a strong slate of upcoming content, including the long-awaited debut of “Seinfeld,” will be enough to drive the kind of subscriber growth Wall Street is betting on.
The shares closed at a record on Thursday for the first time since January. They rose a further 0.3% on Friday, posting a seventh straight positive session, as well as their 15th gain of the past 16 trading days. It’s a sharp turnaround for a stock that had languished this year through July as investors had questioned the outlook following last year’s pandemic-fueled surge.