Netflix has benefited from the spread of coronavirus along with other companies which benefit from ‘stay at home’ activities, according to analysts in the industry.
BMO Capital Market analyst Dan Salmon recently wrote that ‘Netflix is an obvious beneficiary if consumers stay home due to coronavirus (COVID-19 virus) concerns, and this has been reflected in considerable stock price outperformance this week.’
Indeed, while there were fears over a global economic slowdown due to the virus, Netflix clearly isn’t feeling the stress after a 0.8% increase in stock this week.
Other companies which could benefit from coronavirus include Facebook, Amazon and Slack – this insight coming from JC O’Hara, an analyst from MKM Partners.
CNBC reported O’Hara as saying: ‘We tried to identify what products/services/companies would potentially benefit in a world of quarantined individuals. What would people do if stuck inside all day?’
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