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Why Roku Stock Was Up Today

TheMotleyFool

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Shares of streaming-TV platform Roku (NASDAQ: ROKU) were up on Friday after the company announced that its new original-content strategy appears to be paying off. This is good news considering the time and money the company is investing into this pursuit. As a result, Roku stock was up around 4% as of noon EDT today.

In January, Roku acquired video content from failed start-up Quibi. Terms of the deal weren't disclosed, though sources for The Wall Street Journal said the company paid less than $100 million. Roku later rebranded this Quibi content as Roku Originals, launching them as free ad-supported content on The Roku Channel in May.

Image source: Getty Images.

Source Fool.com

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