Netflix stock hit a record high today on the news that it might enter China

Netflix stock reached a record high Friday afternoon.

It hit ~$US617.75 after shooting up more than 5% on the news that it might be in talks to enter China’s online video market, which Bloomberg reported early this morning. The company is now worth more than $US37 billion.

All told, Netflix is up 78% in the last 12 months.

NOW WATCH: We did the maths: Is Uber really cheaper than a taxi?

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.