Why Roku Stock Soared This Week
Shares of Roku (NASDAQ: ROKU) climbed over 15% this week after The Wall Street Journal reported that Comcast (NASDAQ: CMCSA) CEO Brian Roberts is considering making a buyout offer for the company. Buyouts typically come at a premium to the current share price, which is likely why Roku stock popped on the news.
Image source: Getty Images.
Roku's smart TV operating system has seen major adoption over the past few years with the rise of streaming TV and the decline of the cable bundle. Last quarter, Roku's active accounts hit 53.6 million, up 35% year over year. Comcast, on the other hand, is seeing its cable subscribers move in the opposite direction. In the first quarter, it only had 19.4 million video subscribers, down from 20.8 million in the same quarter a year ago.
Source Fool.com
