Why Roku Fell 3% on Wednesday
Shares of streaming technology maker Roku (NASDAQ: ROKU) fell 3.2% today. The modest selling materialized on no news, but does extend a suspicious 23% slide from last month's highs that reached new multi-week lows on Wednesday.
Last quarter's results get the bulk of the superficial blame. Although the stock was already sliding before last Wednesday's post, lackluster user growth accelerated the effort. The company now boasts 55.1 million regular users of its devices, but analysts were anticipating pandemic-prompted growth to continue pumping up that figure to 56 million. Not even a 46% year-over-year improvement in the average amount of revenue being produced by those 55.1 million people was enough rekindle a rally.
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Source Fool.com
