Investors gave Netflix’s stock a mild kick the morning after the subscription-video leader took home a company-record haul at the 2018 Primetime Emmy Awards.
Overall, Netflix nabbed 23 Emmys this year, tying it with HBO. Investors responded by pushing up the share price up as much as 2.5% in early trading Tuesday, after it opened up 0.8%. [UPDATE: The stock rallied late in the session to close up 4.9% for the day, to $367.65 per share.]
The stock increase came after Netflix shares fell 3.9% on Monday, to close at $350.35 per share. The historically volatile issue has declined in the past two months as investor mania for the company has cooled. It hit an all-time-high closing price July 9 of $418.97 per share, which briefly gave it a market cap bigger than Disney.
Netflix’s wins Monday night included Claire Foy (pictured above) taking the trophy for lead actress in a drama series for “The Crown” for her portrayal of Queen Elizabeth II. In total, “The Crown” won five Emmys. Among other Netflix originals, dystopian thriller “Black Mirror’s” “USS Callister” episode won four and Western limited series “Godless” took home three.
Netflix had contenders in the three top Emmys categories but was shut out of the awards for drama series (won by HBO’s “Game of Thrones”); comedy series (Amazon’s “The Marvelous Mrs. Maisel”); and limited series (FX’s “The Assassination of Gianni Versace: American Crime Story”).
Separately, Netflix on Tuesday announced that Axel Springer chairman and CEO Mathias Döpfner was joining its board of directors.
Netflix had a total of 112 Primetime Emmy Awards nominations this year, beating out HBO, which had 108. AT&T CEO Randall Stephenson, whose company now owns HBO, last week characterized Netflix as the “Walmart” of streaming video whereas HBO is like “Tiffany’s.”