1 Beaten-Down Growth Stock That Is Worth Buying Right Now
Roku (NASDAQ: ROKU) stock has been battered over the past year, falling nearly 80% from its all-time high in July 2021. The company has been crushed because of a few factors, namely the supply-chain headwinds that have ravaged the TV market. For consumers, TVs have been hard to get, and considering Roku makes money off of consumers watching television through its streaming platform, this has hurt the company. Additionally, as COVID-19 lockdowns subsided in the U.S., Roku saw its streaming hours dip.
All that being said, the company is poised for a rebound. Despite these headwinds, the company has been able to continue expanding revenue and streaming hours on its platform -- albeit with a few bumps in the road along the way -- and it is gaining new customers despite this TV shortage. This puts Roku in a prime position in the streaming market, and with its dominance in the industry already, Roku is poised to succeed over the long term.
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Source Fool.com
