Comcast Introduces a New Box in a Move Against Roku
There's no denying Roku's (NASDAQ: ROKU) success in the ad-supported streaming market. The company, which specializes in streaming-media players and digital advertising, has gained more than 325% this year alone. Roku's pivot a couple of years back to focus on advertising was a stroke of genius and is now the most profitable segment of its business. It also made the company a must-own tech stock for 2019.
Some investors abandoned ship on Wednesday when cable giant Comcast (NASDAQ: CMCSA) announced it would make streaming boxes available for free to its broadband customers -- a move that could put it directly on a collision course with Roku -- and driving the streaming-pioneer's stock down more than 14%.
Image source: Comcast.
Source Fool.com
