Netflix shares closed up 3.7% on Friday, reaching a new all-time high, as investor bullishness for the subscription-streaming leader’s growth prospects continues unabated, for now.
With the surge, Netflix’s market cap now stands at over $130 billion, putting it within shouting distance of traditional media giants like Disney and Comcast.
Netflix closed at $301.05 per share, cresting a symbolic $300-per-share threshold. The stock is already up 50% since the start of 2018.
The new high-water mark for Netflix comes a day after U.K. satcaster Sky announced a new agreement with Netflix to integrate the subscription VOD offering into its pay-TV service.
Customers with its high-end Sky Q set-top box and service will be able see Netflix titles alongside their regular Sky channels. But Netflix shares actually closed down slightly on Thursday before rallying Friday.
Earlier this week, Netflix CFO David Wells told investors that the company would continue to invest heavily in content and said the company expects to have about 700 original TV series worldwide on the service in 2018.
Netflix ended 2017 with 117.6 million streaming members worldwide, up 25% year-over-year, including 54.75 million in the U.S. alone. Analysts believe it remains poised for strong growth in overseas markets.