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Netflix's password crackdown, Tesla's GM deal: Top tickers

Tesla shares popped after the company announced its EV charging partnership with GM. Netflix's stock rose after data from Antenna showed a jump in subscribers as the company's password sharing crackdown kicked off in the U.S. Yahoo Finance Live breaks down some of the trending tickers of the day.

Video Transcript

- Let's take a look at some of those individual movers. First up, Tesla shares edging higher, locking in its 11th straight day of gains. Now, this ties its longest win streak ever, which took place back in January of 2021. The rally in Tesla coming from a pileup of good news here. The latest headline being its EV charging partnership with GM. Akiko, adding to the momentum that we saw last week following the announcement with Ford, seems like it's good news here for Tesla.

AKIKO FUJITA: Yeah. I mean, there's the expectation now that they've got this partnership with GM, in addition to Ford, that this NACS, which is the charging port that Tesla uses, that could become the new standard here in North America at least. What's interesting to me as we've been saying, is just how the other EV charging companies have been getting hit, have gotten hit on the back of this. But it certainly feels like it's a big one all around, not just for Tesla but for adoption of EVs.

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All right. Netflix posting gains on a report the streaming giant saw US signups rise by the most in at least four and 1/2 years. This boost in user acquisition coming in days after Netflix has cracked down on password sharing last month. The data, of course, coming from analytics platform Antenna. It is a good sign, of course, at a time when people or investors were concerned about how, how much churn we'd likely see as a result of the password crackdown.

- Yeah. And the big question, you brought this up earlier, is whether or not the type of gains that we have seen maybe not to the degree, but how much of that momentum is going to continue. Obviously, when we saw the crackdown here in the US of the password sharing, many of those users who were affected did sign up right away for new accounts. The question going forward is just how much runway Netflix has.

But shares hitting the highest level that we have seen since February of 2022. The street very positive though on this move from Netflix. Pivotal was out with a new note today, just calling this a unique tech growth story here. And I think that's what a lot of people are just trying to figure out. When we look at the two-year chart of shares still under pressure, off just over 13%, what that subscriber growth looks like here going forward given the fact that there is some saturation here in the US.