Netflix Inc. (NFLX) shares closed at $96.24 on Friday, Feb. 27, 2026, up $11.65 or 13.77% from the previous session, marking the streaming giant's strongest single-day gain in recent memory after the company formally abandoned its months-long pursuit of Warner Bros. Discovery assets.
The sharp rally followed Netflix's announcement late Thursday that it would not raise its $83 billion offer for Warner Bros. Discovery's studios and streaming properties, effectively ending a bidding war won by Paramount Skydance with a higher $111 billion deal. Investors cheered the decision, viewing it as a vote of confidence in Netflix's standalone strategy rather than a risky, debt-heavy acquisition in a consolidating media landscape.
