Roku Stock Finally Turns Positive in 2020
There isn't an obvious reason behind every big stock move. Shares of Roku (NASDAQ: ROKU) exploded 12% higher on Thursday, and finding the actual catalyst isn't as easy as it might seem.
There wasn't a major story breaking with positive implications for the streaming media pioneer. There were no bullish analyst moves. The general market moved lower on the day. It's even hard to argue that a short squeeze was a potential trigger to the rally. Short interest on Roku was already 25% lower than it was when it peaked in mid-March.
However, the 12% move is notable because it pushed Roku back into positive territory for 2020. Outside of a single day in early May, Roku stock has been trading in the red this year since mid-February. Roku's back -- for now -- but there are some pretty good reasons to think that the overdue rally in the shares is just getting started.
Source Fool.com
