Why Netflix Stock Barreled Higher on Tuesday
There are reports that the streaming pioneer has plans to reach some lofty goals.
Shares of Netflix (NASDAQ: NFLX) charged sharply higher on Tuesday, surging as much as 6.7%. As of 2:49 p.m. ET, the stock was still up 5.5%.
The catalyst that propelled the streaming pioneer higher was a report that suggested the company has its sights set on impressive growth over the next five years.
Netflix, which has already been one of the stock market's star performers over the past couple of years, has ambitious goals for the future. The company generated revenue of $39 billion in 2024 but has plans to double its top line to $78 billion by 2030, according to a report in The Wall Street Journal.
