3 Reasons I Just Bought Roku Stock
Recently, many high-growth tech stocks have surged. Investors are betting on these companies as a way to profit from work-from-home trends and the acceleration of organizations' digital transformations. But one notable fast-growing tech company has been left out of this outperformance in 2020: video-streaming company Roku (NASDAQ: ROKU). The stock is down 20% year to date, significantly lagging the S&P 500's 7% decline in 2020.
Investors have good reason to be concerned about the tech company's growth story in the near term. One of Roku's main growth drivers -- streaming-TV advertising -- has been hit hard as many businesses slashed their ad budgets or even paused ad campaigns entirely amid lockdowns. But as the economy reopens, Roku is well-positioned to return to the monstrous growth it was seeing before COVID-19.
Here are three reasons I'm going against the market's fear and buying shares of Roku.
Source Fool.com
