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Why Roku Stock Slipped on Friday

TheMotleyFool

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Shares of Roku (NASDAQ: ROKU) traded lower on Friday, with the stock falling as much as 4.9% earlier in the session, and ultimately ended the trading day down 4.7%. The streaming video specialist slumped on reports that Cathie Wood, the founder and CEO of ARK Investment Management has been selling Roku shares from ARK's exchange-traded funds (ETFs).

Image source: Getty Images.

Wood has sold more than half a million shares of Roku stock since the end of June, according to a report by Bloomberg. Roku shares closed out last month at roughly $459, suggesting the Wood's sales amounted to nearly $239 million.

Source Fool.com

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