Netflix stock pops after-hours as NFLX drops out of Warner Bros bidding war
Netflix shares closed up 2.3% at $84.59 and rose another 0.8% after hours Thursday. The company said it will not raise its bid for Warner Bros Discovery after Warner’s board called Paramount Skydance’s $31-a-share offer superior. Netflix had previously agreed to pay $27.75 a share. Focus turns to Warner’s response and Netflix’s plans for its cash.