Netflix, Inc. (NASDAQ: NFLX) is having a pretty strong start to the trading session today and for good reason. It seems to have found a door into China, and that is exciting investors. As a result, the stock is moving up, which prompted our partners at Trade Ideas to alert us to the trend. At the moment (9:45), NFLX is trading at $146.75 per share after a gain of $2.92 per share (2.03%) thus far today.
NFLX Finds The Door Into China
For some time now, Netflix has wanted to offer its services in China. However, due to stringent rules in China, it hasn’t been able to do so. However, things seem to be changing. It loos like the company is interested in working with Baidu’s iQiyi, a top video portal in China, to get into the country. In a statement, Robert Roy, Vice President of Content Acquisition at NFLX, had the following to offer:
“We’d love to have (a) direct relationship in China and it’s just a matter of when and how, and that’s something that we’re trying to figure out over time.”
Nonetheless, according to various posts on social media and various reports online, they have figured this out. The goal here is a partnership with iQiyi, and if you listen to the chatter, that partnership is all but signed.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on NFLX. In particular, we’re interested in following the company’s relationship with iQiyi and their entrance into China. We’ll continue to follow the story closely and bring the news to you as it breaks!
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