Netflix Is Closing In on Disney Again In Terms of Market Value
- Disney shares tumble after streaming subscribers miss estimate
- Tesla CEO Elon Musk unloads $5 billion of stock in company
Netflix’s growth has been boosted by the hit show ‘Squid Game.’
Source: Netflix Inc.
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Netflix Inc. overtook Walt Disney Co. in market value for the first time since last year, after the amusement park owner’s earnings stoked concerns about slowing subscriber growth in its streaming business.
A 27% advance since the end of July has boosted Netflix’s market value to $291 billion. Disney’s market value shrank to about $288 billion after the stock tumbled 9% on Thursday.