The global coronavirus pandemic may have dealt a huge economic blow to some businesses, but it looks like streaming giant Netflix is benefitting from it, at least in the short term, as its stock has risen to an all-time high.

The Hollywood Reporter reveals that the stock for Netflix rose to an all-time high of $499.50. By the end of trading, the stock was at $498.71, which means Netflix as a company is now worth around $219 billion.

This increase follows an earlier 25 percent gain Netflix stock received April of this year, resulting in stock worth $413.55. Back then, analysts attributed the rise to Netflix becoming essential entertainment during the lockdowns brought about by the global coronavirus pandemic because of the closure of movie theaters and the prohibition of public gatherings.

The huge amount of original movies and shows in the Netflix library that are unaffected by the production stoppages caused by the pandemic, as well as the relationship Netflix has built with its subscriber base over the years, were also cited as reasons for the jump in stocks last April.

This time around, David Miller of Imperial Capital gave four reasons for the positive performance of Netflix during the global coronavirus pandemic. According to Miller, Netflix is “impervious” to the effects of COVID-19. In fact, Miller attributed $184 per share of equity value to the spread of COVID-19.

Miller also attributed the lack of physical assets for Netflix as an advantage, since it does not own movie theaters or theme parks that are now closed because of COVID-19. Another factor Miller pointed out is that Disney+ has not taken any subscribers away from Netflix, which is what some analysts expected would happen.

Finally, Miller also explained that Netflix has differentiated itself enough from Disney+ by offering shows from almost every country and offering it to other nations all over the world.

Because of Netflix outperforming, CNBC reports that analysts are now anticipating the steaming giant to achieve even more milestones. Netflix stock rising to $600 is now something that analysts are eyeing, with Netflix’s upcoming earnings report as a possible catalyst.

With the global coronavirus pandemic still ongoing, it does look like stock prices for Netflix is only going to go up. According to the World Health Organization’s situation report for July 7, there are now 11,500,302 confirmed COVID-19 cases worldwide. Deaths are now at 535,759 people.

In the United States, the Centers for Disease Control and Prevention’s update for July 7 pegs the number of confirmed COVID-19 cases at 2,932,596, with deaths at 130,133 people.