Now that Blockbuster has filed for Chapter 11 bankruptcy, Netflix (NFLX on the NASDAQ) has become a much more solid buy. For years, Netflix always was looking over its shoulder at Blockbuster, the company that had been at the head of the class for movie rentals for years on end. Now that Blockbuster has decided to file for chapter 11, Netflix stock has hit an all time high.

Shares of Netflix were trading as high as $163.72 each today during trading hours. Currently it sits at $160.09 which is a 2.01% increase over yesterdays price. Blockbuster is not totally out of the picture, but the Chapter 11 news, can provide more confidence for investors of Netflix.

The market capital of Netflix is 8.42 Billion, with 52.36 million shares outstanding. It should be interesting to see what happens in the coming weeks. Blockbuster (BLOKA) stock has already fallen almost 27% today.