Roku Stock: Next Stop, $60?
It was a rough week for Roku (NASDAQ: ROKU) stockholders. Shares of the streaming video gadgetry pioneer tumbled 26.8%. The first hit came on Wednesday after Comcast (NASDAQ: CMCSA) announced that it would be offering a lease of its own streaming device player at no additional cost for its internet-only Xfinity customers. The second dagger followed two days later after an analyst at Pivotal Research initiated coverage of the stock with a sell rating and a price target of $60 -- less than half of the stock's price at the time of the new Wall Street coverage.
A rough week doesn't mean that Roku stockholders have had a rough year. It remains one of this year's biggest winners after more than tripling, up 253% year to date. The stock has actually more than quadrupled since bottoming out on Christmas Eve last year. There are a lot of moving parts to the slide, so let's break it all down.
Image source: Roku.
Source Fool.com
