Why Netflix Was a Stock Market Star on Thursday
Thursday morning, Netflix (NASDAQ: NFLX) filled in the details of its ad-supported subscriber tier. Investors obviously liked what they heard, and consequently they pushed up the streaming service's stock price. As of midafternoon trading, Netflix shares were rising at a 4%-plus clip over the previous day's close, well outpacing the S&P 500 index's 2.2% gain.
Netflix's ad-supported tier has been formally christened Basic With Ads. It will cost $6.99 per month in the U.S. The tier will also be available in 11 other countries, including the U.K., Germany, Japan, Korea, and Mexico. Netflix did not specify the pricing for those non-U.S. markets.
Basic With Ads will launch on the morning of Thursday, Nov. 3. The tier will be the lowest on a four-rung ladder, underneath the video streaming giant's Basic, Standard, and Premium pricing levels.
Source Fool.com
