Why Roku Stock Jumped on Friday
Roku (NASDAQ: ROKU) investors beat the market early Friday as shares jumped 4% by 11:15 a.m. ET, compared to a flat result for the S&P 500. That boost didn't erase much of the year-to-date losses for the streaming video specialist, though. The stock remains lower by nearly 80% so far in 2022.
Friday's rally came as investors grew more optimistic about the short-term growth prospects in the industry.
Rival Netflix saw unusually high demand for its stock Friday morning after the subscription streaming video leader received a few head-turning upgrades. An analyst at Wells Fargo raised his price target for the stock to $400 on the expectation of faster growth and gushing cash flow ahead. Netflix received a similar upgrade from an analyst at investment firm Cowen.
Source Fool.com
