Why Roku Spiked 10% Higher Today
Shares of Roku (NASDAQ: ROKU) spiked nearly 10% higher on Friday as of 1:50 p.m. EDT. There was no specific news from the leading TV streaming company, but July 23 marks the opening ceremonies of the Olympics in Tokyo, Japan. Roku had previously announced a partnership with NBCUniversal (a subsidiary of Comcast (NASDAQ: CMCSA)) to bring the summer games directly to the home screen of the Roku channel, so user engagement on Roku's services could see a spike in the coming weeks.
It's also stock options expiration day, and interest in investing in Roku is flying high right now. In fact, one Wall Street analyst from researcher Stephens mentioned Roku in a recent research note about The Trade Desk (NASDAQ: TTD) as benefiting from a continued transition to streaming-based advertising. This at least partially explains traders' bullish outlook on the stock.
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Source Fool.com
