NFLX: 17% Weekly Surge Tests $100 Resistance
Netflix (NASDAQ: NFLX) has exploded 17.1% in a single week, pushing shares to $99.02 and testing the psychologically significant $100 level. The streaming giant's rally comes after it dropped its pursuit of Warner Bros. Discovery's studio assets, signaling a decisive return to organic growth. With a $420 billion market cap, Netflix now trades 14% above its 50-day moving average of $86.76. The timing of the rally is notable. Netflix's decision to walk away from the Warner Bros. bidding war — after Paramount Skydance escalated its offer — removes a major source of uncertainty that had weighed on the stock. Bank of America Securities remains bullish despite lowering its price forecast, viewing the exit as a positive refocusing on Netflix's core streaming business. With the stock sitting just below $100, investors are weighing whether this rally has legs or if the [39x P/E multiple](/posts/2026-03-02/pe-ratio-what-it-tells-you-about-stock-value) already prices in the good news.