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The ascent came amid a broader market rally that saw both the S&P 500 and Dow Jones indices climb. Despite this favorable market environment, trading volume for Netflix was considerably lower than usual. The company reported a trading volume of 3.3 million, significantly below its 50-day average of 4.9 million.
While Netflix enjoyed a boost in its share price, it wasn’t alone. Competitors Apple (NASDAQ:AAPL), Disney, and Comcast (NASDAQ:CMCSA) also experienced increases in their share values on Monday. Despite these gains across the board, Netflix’s trading volume remained notably lower than its typical average, suggesting a potential lack of investor enthusiasm compared to other media giants.
It remains to be seen whether the current bullish market conditions will help propel Netflix’s shares closer to their yearly high in the coming days or if the lower trading volume signals a more cautious approach by investors towards the streaming service provider.
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