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Roku Tanks on Free Comcast Streaming Players

TheMotleyFool

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Roku Tanks on Free Comcast Streaming PlayersPhoto, wide shot, wide-angle lens, Mobile phone network, sunset photo at golden hour, photo by Thomas Heaton: https://img.theapi.app/temp/828b91fb-678a-4621-906b-21e972059e7d.png

Shares of Roku (NASDAQ: ROKU) tanked today, closing down nearly 14%, after telecommunications conglomerate Comcast (NASDAQ: CMCSA) announced that it will be giving away Xfinity Flex set-top boxes to subscribers. The kicker: Internet-only customers will be eligible for the free hardware. Instead of only providing devices for cable TV subscribers, Comcast is trying to appeal to cord-cutters. The first device is free, and customers can get a second one for $5 per month.

Here's why Roku investors are concerned.

Internet-only customers can now get a free streaming media player. Image source: Comcast.

Source Fool.com

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