Netflix and Tesla are Thursday’s Winners
In the stock market, there are often winners and losers, which is why it’s vital to diversify your portfolio. If you put all your eggs into one basket, you expose yourself to market volatility and unforeseen circumstances. Take COVID-19 for example, where tons of stocks fell and remained down due to something nobody saw coming. And while Thursday was somewhat bleak for investors, there were two standout stocks in Netflix and Tesla. The online media library and car manufacturer outperformed the market, jumping while various indexes fell.
For example, the Dow Jones Industrial Average dropped 0.62%, which is more significant than it may sound. The S&P 500 wasn’t as dramatic, displaying a decline of 0.04%, placing it at 4,221.86. And while they fell, Netflix inched upwards for a second consecutive day, although it’s far from any records. Namely, the company’s stock jumped about 1.20% to a price of $498.34. Before that, the stock’s most significant showing was January 20th, with a price of $593.29.
And while Netflix seems to be catching up to previous heights, other competitors aren’t sleeping either. Amazon displayed growth of 2.17%, in part due to its Amazon Prime Video service. However, Disney didn’t share in the online streaming success, remaining mostly flat at -0.01%.
As we mentioned earlier, the automotive industry also had a decent showing, with Tesla leading. The car manufacturer’s stock jumped 1.94%, with its price equalling $616.60 on Thursday. As far as cars go, Toyota was the only one to somewhat match Tesla’s movement, with a 0.74% jump. General Motors Co. dropped by a noticeable margin, with a 2.72% fall to $60.08. Honda Motor Co. was similar, although with less drastic movement, now sitting at $32.53 after a 0.82% slide.
As the markets near their close for the week, investors hope for a more beneficial session.