Investing is often a balance between risk and reward, growth and stability, future promise and proven results. Among the myriad of choices, growth stocks stand out for their potential to outperform the market, especially for those looking to invest a set amount like $1,000. And right now, (NASDAQ: ROKU) stands out as a widely misunderstood growth stock that deserves your stock-hunting attention.

Roku has carved out a lucrative long-term niche for itself in the ever-expanding media streaming industry, which is becoming the cornerstone of modern media consumption.

The company has been in the game from the very beginning, starting life as the division of Netflix (NASDAQ: NFLX) producing the first set-top boxes for video streaming. And it's still a market-defining, dominant leader in 2024. According to the data analysts at Pixalate, devices running Roku's streaming platform software accounted for 51% of the global connected TV (CTV) market in the third quarter of 2023.

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Source Fool.com