Netflix Stock Rising On Blockbuster Bankruptcy

Blockbuster Going Bust

Photo: Robert Wilonsky, Dallas Observer

Blockbuster’s long-expected bankruptcy announcement this morning is cheerful news for at least on group of people: Netflix investors.Netflix stock is up 4.8% today in a slightly down market, hitting a new high of 154.22.

Blockbuster has been universally expected to perish for ages, so this isn’t a major development for Netflix, but the demise of a competitor is always good news.

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