Why Netflix's Stock Is Trading Higher Today

Netflix NFLX shares are trading higher on Wednesday, potentially in sympathy with Roku ROKU.

Citi initiated coverage of Roku with a Buy rating and $180 price target.

Netflix's primary business is a streaming video-on-demand service now available in almost every country worldwide except China. Netflix delivers original and third-party digital video content to PCs, Internet-connected TVs, and consumer electronic devices, including tablets, video game consoles, Apple TV, Roku, and Chromecast.

In 2011, Netflix introduced DVD-only plans and separated the combined streaming and DVD plans, making it necessary for subscribers who want both to have separate plans.

Netflix shares were trading up 10.05% at $539.88 at the time of publication on Wednesday. The stock has a 52-week high of $575.37 and a 52-week low of $252.28.