What's Going On With Netflix Stock?

Netflix, Inc. NFLX shares are trading higher Wednesday, and the stock is up nearly 6% over the past five days. Here's a look at what's going on:

What To Know:

Netflix announced on Wednesday that it will have 86 games available for play by the end of the year. Netflix currently has 40 games available to customers, and the company said it has nearly 90 games in development that will follow.

Netflix released its first "What We Watched" viewership report on Tuesday in an effort to improve transparency within the company. Netflix said that it will release the report at six-month intervals going forward.

Netflix co-CEO, Ted Sarando, said, "“This is the actual data that we use to run the business. I’m the co-CEO of a public company, so sharing bad information has consequences.”

“This is probably more information than you need, but I think it creates a better environment for the guilds, for us, for the producers, for creators and for the press,” Sarandos said.

According to data from Benzinga Pro, Netflix shares are trading above the stock's 50-day moving average of $425.81 and near its 52-week high of $485.

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NFLX Price Action: According to Benzinga Pro, Netflix shares are up 2% at $472.64 at the time of publication.

Image: Tumisu from Pixabay