Shares of streaming giant Netflix (NASDAQ:NFLX) recently surged past $1,000 per share for the second time this year after a very respectable earnings beat. Undoubtedly, the incredible surge in the streaming juggernaut may have caught everyone by surprise. Indeed, the tech stock, which was not part of the Magnificent Seven group of tech stocks, is now among the most impressive performers in recent months. And while it’s too soon to crown Netflix, the streaming king, as the Magnificent One (the Mag Seven stocks are in a painful bear market right now, as NFLX comes off recent highs), I think that investors looking for a steady ship to sail through a harsh rainy spring and summer may wish to check out the video streamer as it has its way with its industry competitors. Netflix stock hits $1,000 per share. Higher highs ahead? Undoubtedly, Netflix stock’s moment in four-figure territory did not last long, as shares retreated on a turbulent Monday of trade. While NFLX shares were still up around 1.5% on the day, I’d argue that the bearish day of trade took away from a quarter that should have seen the name rewarded with more significant pop. Either way, being spared from a really bad down day for markets seems good enough, given the indiscriminate selling activity we’ve witnessed of late in response to Trump’s tariff threats and fears that the economy is just months away from falling into some sort of recession. Indeed, the risk of recession seems to be climbing higher. And while it’s not too late to avoid such a fall, I do think it’s wise for Canadian investors to position their portfolios with an economic downturn in mind. Sure, the dips in the high-multiple stocks are tempting to nibble away at. But it’s these types of names that could continue leading the way lower. And if you’re looking for a fast bounce-back gain, you may be in for substantial near-term pain instead. Personally, I think Netflix is a surprising defensive way to ride out a recession. Undoubtedly, Netflix is a discretionary subscription that some people ought to cancel if their budget is up against it. However, I’d argue that a Netflix subscription has already demonstrated its immense value proposition. Indeed, even a more cost-conscious consumer may wish to stay subscribed to be more affordably entertained as a recession approaches. Does this make NFLX stock recession-proof, as some on Wall Street believe? That’s the big question on the minds of investors right now. Netflix stock may very well be recession-resilient. Here’s why Indeed, Netflix’s ad-based tier, which goes for around $8 per month, offers unmatched value. Arguably, the ad-based tier may allow Netflix to gain share from rivals, as some hard-hit consumers resort to “cord-cutting.” In any case, Netflix is the platform that has all the content that everyone’s raving about. And, relatively speaking, Netflix is one of the most affordable ways to be entertained. It’s not just about the binge-worthy shows, either. The deep library of films and a now bustling library of mobile games (some of which have ties to Netflix’s original hit shows) can keep cost-conscious subscribers entertained for hours on end on the cheap. While competition is still fierce, I’ve yet to see a streamer really thrive at the international level the way Netflix has. As it turns out, the Netflix formula isn’t all too easy to replicate. And for that reason, Netflix is a wide-moat firm that may just outperform the rest of the tech in 2025. The latest quarter of standout profits and hot sales, I believe, could be just the start.