Why Roku Jumped 10% Today
Shares of once high flying Roku (NASDAQ: ROKU) hit a speed bump as the market rotated out of technology stocks over the past several weeks. The stock is down 23% compared to this time last month, but the tide is turning back today.
Shares of Roku were up 10%, near the highs of the day, as of 3:50 p.m. EST.
One investor who added to Roku on the dip was ARK Investment's Cathie Wood. ARK Innovation ETF (NYSEMKT: ARKK) discloses its daily positions, and the exchange-traded fund added almost 150,000 shares of Roku on Friday during the tech sell-off. Investors who follow Wood's moves are also adding to, or initiating, investments in Roku today.
Source Fool.com
