Netflix rises in market shares

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Netflix rises in market shares
(BDCi) – Video rental provider Netflix is trying to get back to the market.

Shares of the company rose $11.98, or 14%, to close at $98.18 on Monday, after hedge fund manager Whitney Tilson told CNBC that he sees the company as a potential buyout target, with a market cap of $4.9 billion.

Netflix shares had their biggest advance since Jan 27, 2011 and reached their highest point since Oct 24, 2011.

Netlfix has had a tough time image wise since it made price changes back in September. Netflix made their DVD rentals and Instant Watching into two separate monthly fees. That angered lots of customers who left the company for others.

This bounce back in the market could be a sign of better times for the company. Also on Monday, Netflix launched its service in the U.K and Ireland.

By: Natania Levine
Courtesy: marketwatch.com

Photo: digitaltrends.com

10 January 2012

11:29 a.m P.S.T

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