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Netflix, PayPal, and other companies thriving during the pandemic climb the most valuable company rankings

Netflix, PayPal, and other companies thriving during the pandemic climb the most valuable company rankings

Allana Akhtar

The last six months saw record turnover among the most valuable global companies. Tokyo-based Nikkei Asian Review found that change among the top 1,000 companies' market capitalization has now hit its highest point since the 2008 financial crisis.
Market capitalization measures the total value of publicly traded companies — the companies that have thrived during the pandemic have seen huge gains in market-cap rankings.
Streaming-site Netflix, for instance, went from the 65th most valuable company worldwide in December to 37th most valuable in June, per Nikkei. Goldman Sachs analysts predict Netflix will report 12.5 million net subscriber additions in its second quarter earnings report next week.
PayPal's ranking among the most valuable companies also rose to 32nd from 76th. The company's stock is up 65% year to date. Chip maker Nvidia's ranking went up 37 spots after its sales topped $1 billion for the first time in the past quarter, on surging demand for video games.
The change in market-cap rankings could signal which companies will leave the pandemic, which has rocked a huge number of businesses, in a better position than when it started, Nikkei reports.
Read the full report on Nikkei Asian Review.