Netflix💻 Hits Record-High Stock Value📈 After Price Hike Announcement

Shares of Netflix hit a record high $198.92 before settling at $198.02 on Friday, a day after the company disclosed plans for a 10 percent U.S. price hike.

Netflix said Thursday its most popular plan would increase $1 to $10.99 per month, and the stock was up 2 percent. It rose an additional 2 percent Friday.

By the closing bell on Friday, Netflix sported a market cap of $85 billion, more than CBS, Viacom and 21st Century Fox, combined.

Netflix said it is raising its price stateside so it can afford to spend on content. While some analysts worry Netflix is racking up too much debt satisfying its thirst for new shows, most applaud the effort.

After the price increase, Wells Fargo Securities analyst Ken Sena reiterated his "overweight" rating on the stock.

"We think timing makes sense," wrote Sena. "Netflix continues to gain subs despite streaming bundles, is adding originals and is improving service."

UCJ, UNILORIN.