Why Roku Stock Crashed Again on Wednesday
Shares of Roku (NASDAQ: ROKU) turned sharply lower Wednesday, continuing their downward trajectory for the week, falling as much as 6.9%. As of 11:43 a.m. ET today, the stock was still down 5%.
The catalyst that sent the streaming pioneer crashing was lowered expectations from a Wall Street analyst.
Bank of America analyst Ruplu Bhattacharya lowered his price target on Roku shares from $235 to $145, though he did maintain a buy rating, according to TheFly. To give this change some context, his new estimate would still represent a potential gain for investors of roughly 58% over the coming year, compared with the stock's closing price on Tuesday, so the news isn't all bad.
Source Fool.com
