Netflix stock soars toward biggest gain in nearly 3 years, would add more than $21 billion to market cap

Shares of Netflix Inc.
NFLX,
+16.74%
shot up toward the best one-day performance in nearly three years, in the wake of the streaming video giant’s strong third-quarter results. The stock rose 13.5% to lead all of the S&P 500’s premarket gainers, a day after it closed at five-month low. The stock was headed for the biggest percentage gain since it soared 16.9% on Jan. 20, 2021, which was the day after Netflix reported fourth-quarter 2020 results. The implied premarket gain in price would add about $21.1 billion to Netflix’s market capitalization, which would push the market cap up to roughly $175 billion. The company reported late Wednesday a big jump in subscribers, handily beat profit expectations and announced a price hike.