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Why Roku Stock Just Dropped Another 10.5%

TheMotleyFool

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Why Roku Stock Just Dropped Another 10.5%

By now you've heard the news: Comcast (NASDAQ: CMCSA) is offering its internet-only subscribers a free over-the-top (OTT) Xfinity Flex streaming device from which to stream content, potentially making Roku's (NASDAQ: ROKU) ubiquitous streamers superfluous. Hearing this, investors subtracted 14% from Roku's market capitalization on Wednesday.

Which kind of makes sense, but why is Roku stock going down another 10.5% as of 10:10 a.m. EDT today?

Image source: Roku.

Source Fool.com

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