BUZZ-Netflix eases after announcing $1 bln investment in Mexico
ReutersFeb 20, 2025 7:29 PM
Netflix NFLX.O on Thur announces $1 bln investment to produce ~20 films and TV series annually in Mexico over next 4 years; stock down ~2%
Dip in NFLX shares follows a record high close on Feb. 14, and stock remains up ~17% since the co reported record subscriber gains on Jan. 21
NFLX has history of successful Mexican productions, including "Roma", "Club de Cuervos" and "Pedro Paramo," and co plans to collaborate with Mexican movie studio Estudios Churubusco NFLX stock has gained about 15% YTD, outperforming Nasdaq .IXIC's 3% rise NFLX stock recently traded at 41x expected earnings, above its 5-year avg forward PE of 38, per LSEG data
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