Why Roku Stock Is Falling Hard Today
Shares of the video streaming platform company Roku (NASDAQ: ROKU) were sliding today, reversing their gains from yesterday.
Investors appear to be reacting to some jobs data that indicated that the labor market is still resilient. A strong labor market could encourage the Federal Reserve to keep raising interest rates. As a result, Roku's shares were down by 6.8% as of 11:30 a.m. ET.
Yesterday, the broader market jumped as investors hoped that stocks had reached their bottom after the S&P 500 fell more than 9% in September. That helped boost Roku's share price as well, which gained 4.4% yesterday.
Source Fool.com
