Netflix surpassed Comcast in market value Wednesday, thanks to a new record high for the video streaming company’s stock price. Netflix’s market cap also came within arm’s-length of Disney, with both companies separated by just a few hundred million dollars.
Netflix ended Wednesday’s day of trading with a stock price of $344.72, resulting in a total market cap of $152.8 billion. Comcast’s market cap at the close of the markets was $147.15 billion.
Netflix’s stock was up close to 4% Wednesday following Tuesday’s announcement of signing President Barack Obama and First Lady Michelle Obama for a production deal. Comcast’s stock ended the day down around 2%.
Even more striking: Netflix’s valuation is strikingly close to that of Disney, which ended Wednesday’s day of trading with a market cap of $153.36 billion — less than $500 million above Netflix’s market cap.
Netflix’s stock has been up 70 percent since the beginning of the year. The company surpassed market expectations with its Q1 2018 earnings report, which showed it making a net profit of $290 million, and surpassing 125 million streaming subscribers worldwide.