Netflix shares increased 2.2% to close at $78.67. Analysts at Wedbush and Sanford C. Bernstein supported the rally by reaffirming their buy ratings.
Billionaire investor Philippe Laffont signaled market confidence by purchasing approximately 10.2 million shares. This momentum arrives during an intensifying takeover battle for Warner Bros. Discovery.
A competing bid from Paramount and Skydance recently cleared a significant U.S. antitrust milestone. In response, Netflix is highlighting its own proposed merger as having a clearer regulatory path to completion.
Netflix management also reassured investors that the company maintains the financial capacity to submit a higher offer if necessary.