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Netflix Stock Update
Netflix (NASDAQ: NFLX) recently completed a 10-for-1 stock split on October 2, 2023, reducing its share price from $1,125 to $112.50. However, the stock has continued to decline, closing at $104 today, marking a drop of approximately 7% since the split.
Currently, Netflix’s share price is around $104, while it earned $39 billion in profit last year, equating to $1.98 per share. This positions Netflix’s profit at 50 times greater than in 2016, when shares were priced over $115 and profit was only $187 million or $0.04 per share.
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