Netflix Inc. leapt past the Walt Disney Co. in market value Thursday, with its shares rising 2.4 percent o more than$353 and a market cap $153.7 billion, taking the title of most valuable media company.
Disney (Nasdaq:DIS) was down nearly 1 percent at $101.91 a share in midday trading. It has a market cap of $151.9 billion.
Netflix (Nasdaq:NFLX) leads the S&P Index this year after gaining more than 81 percent, while Disney stock is down 5.5 percent for the year to date.
Netflix sales rose 40 percent last quarter, fueling investor interest.
