Cramer: 'House of Cards' could add this much to NFLX shares
Netflix trades on new sign-ups, so when it releases a new season of one of its biggest series, that only means good things for share prices, CNBC's Jim Cramer said Friday.
Netflix released a new season of its Emmy-nominated original series "House of Cards" on Friday—a day after its stock reached a 52-week high of $439.49 per share—as much of its East Coast audience digs out of a brutal winter storm. And as Netflix continues to press on with original content, users who want to join the bandwagon must sign up to watch the series from the beginning, said Cramer, who doesn't hold NFLX shares.
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"That's worth about at least $17 to Netflix's stock," Cramer said on "Squawk on the Street." "Because Netflix's stock goes up on anything."
Even President Obama added to the hype around the political-thriller set in Washington, when he asked his Twitter followers Thursday afternoon to keep from revealing important plot points.
"When you bring out a series, whether it be 'Arrested Development' season three ... or whether it be this one, you have to start, and it causes people to sign up," Cramer said. "Netflix trades on sign-ups."
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Netflix didn't see Cramer's predicted boost Friday morning when trading opened, with its shares instead falling just slightly lower than Thursday's closing price. But when Netflix reported 2.3 million new subscribers in January, share prices rose sharply and its momentum continued into this week.