Netflix Coming To 43 Latin American, Caribbean Countries
Netflix (NFLX) just announced some major expansion plans. Later this year, they will offer their popular streaming service to 43 countries in the Caribbean and Latin America.
This expansion is of no surprise. Earlier this year, Netflix CEO Reed Hastings stated that the company would invest significant resources towards international expansion. In April, Netflix told investors that they expect to lose up to $70 million during the second half of the year, as they enter new markets.
Investors who followed the clues were handsomely rewarded today. Netflix stock surged 8.1 percent, closing at $289.63.
For all of you who missed the boat, there’s still time to hop on. Netflix is expected to enter another market in early 2012. I’m guessing that market will be either Europe or Asia. If I’m right, Netflix stock will likely blast through the stratosphere!
Here’s what Rex Crum has to say about the expansion: