Content Is King And Netflix Is Acquiring It

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show. Netflix, Inc. NFLX shares were trading higher by $18 (2.7 percent) at $645.23 in Tuesday's session. There are multiple potential catalysts for the explosive move to new all-time highs. The first one is unconfirmed market chatter that Jack Ma's Wasu Media is looking to acquire a 20 percent stake in the company. The other is the company making more moves in securing content. A criticism of the company has been its ability to retain valuable or create new and unique. Things have changed in this arena as before the open, DHX Media announced "Degrassi: Next Class" will premiere on Netflix in 2016. Related Link: Netflix Snatches Brad Pitt's 'War Machine' In addition, Brad Pitt's new movie "War Machine" will be released on the streaming platform. Separately, the company will be voting on a share increase, which could lead to a stock split, at 3 p.m. ET. After a lower open due to the weakness in the broad, it made its low off the opening print ($625.34) and never looked back. So far, it has reached $648.16, vastly improving on its former all-time high that was made in Monday's session ($635.71). Today's rally is taking place on heavier than average volume. With over three hours remaining in the session, 1.7 million shares have already changed hands compared with its 20 day average of 1.7 million.