Why Roku Stock Suddenly Jumped on Wednesday
Shares of Roku (NASDAQ: ROKU) had a nice, quiet day for most of Wednesday's trading session. But then the stock suddenly shot up as much as 5.1% near 2 p.m. EDT, as investors caught wind of a significant revenue opportunity straight out of Cupertino, California.
Roku did not announce a new deal or partnership today, but the company did publish some updated pictures of the high-end Roku Ultra media-streaming device. The Ultra's new remote has replaced the Sling TV button found on older versions with a new shortcut directly to the Apple TV+ service. This way, Apple (NASDAQ: AAPL) joins fellow media-industry giants Netflix and Walt Disney on the Roku remote, presumably paying a handsome fee for this premium real estate. The Roku Ultra move is probably the start of updated remote buttons across the company's full portfolio of streaming devices and stand-alone remote upgrades.
The Roku Ultra with a new Apple TV+ button. Image source: Roku.
Source Fool.com
