Media

Netflix Shares Surge; Option Activity Jumps

Published on July 5, 2012
by Steven Russolillo

Netflix shares are on a tear, jumping 14 percent and moving back above $80 for the first time since early May.

The rally builds on a 6.2 percent advance during Tuesday’s session after CEO Reed Hastings boasted about the company’s streaming business. In a short status update on his Facebook page, Hastings revealed Netflix customers streamed more than 1 billion hours of video last month, which marks a new record for the online video rental company.

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