Roku Proves That It's Not Netflix
The market was a pretty ugly place on Friday, but one of the few winners was Roku (NASDAQ: ROKU). Shares of the company behind the original streaming hub traded as much as 11% higher on Friday after posting strong quarterly results. Those upticks were whittled away to a mere 1% gain when market prices started to collapse, but Roku was one of the rare growth stocks to wrap up the challenging trading day in positive territory.
Roku stock has been hit hard since peaking last summer, but the sell-off has been accelerating since Netflix (NASDAQ: NFLX) stunned the market by posting a sequential decline in global streaming accounts two weeks ago. Roku may have been seen by many as a niche disruptor riding on the coattails of Netflix, and that was fine when the leading premium streaming service was rocking. Now that Netflix is going through some growing pains it's comforting to know that Roku has its own coat.
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Source Fool.com
