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Shares of Hollywood stay-at-home streaming stocks keep rising as Americans get their TV fixes online amid the coronavirus pandemic.
Netflix on Tuesday hit a new 52-week high at $417.82, before ending the day up $16.83, or 4.2 percent, to $413.55, as investors reward the streaming platform for becoming virtually essential TV viewing for consumers cooped up in their homes.
Shares in Amazon also reached a new 52-week high after rising earlier in the day to $2,292.00. The stock then settled back down at the close to $2,283.32, after climbing 5.2 percent, or $114.45 on the day.
Besides hiring more employees to feed its expanding ecommerce business, Amazon’s Prime video streaming division is also seen as a winner as TV viewers go online to view shows during the COVID-19 crisis. At 150 million members at the end of its fourth quarter, Prime moved closer to streaming video leader Netflix and its 167 million subscribers.
Elsewhere on Tuesday, Roku saw its stock price jump by $9.97, or 10.3 percent, to $106.53, after having invested heavily in building out its TV streaming platform. Roku, in providing an update on Monday to its 2020 outlook amid the virus pandemic and ahead of a May first-quarter reporting date, said it had reached 39.8 million active accounts as of March 31, up by nearly 3 million since December.
Roku also forecast first-quarter streaming hours will be 13.2 billion, up 49 percent year-over-year. “Consumers are turning to Roku now more than ever. As the leading TV streaming platform in the U.S., Roku is proud to provide easy access to live news, free movies and TV, great paid content, and helpful programming for individuals and families who are sheltering at home,” Roku CEO Anthony Wood said in a statement accompanying his update.
And shares in The Walt Disney Company ended Tuesday at $106.03, up $2.53, or 2.4 percent on the day, as investors continue to look beyond shuttered U.S. theme parks to the studio being a streaming stock play after Disney+ hit the 50 million subscriber milestone.
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