Why Roku Stock Plunged 10.1% Today
Shares of TV device and streaming company (NASDAQ: ROKU) fell as much as 10.1% in trading on Wednesday as the market sold off and investors started to question the future of second-tier streaming companies. The stock is down 9.6% as of 3 p.m. EDT.
The catalyst today was Comcast's earnings report, which showed a loss of 500,000 subscribers at Peacock to 33 million paid subscribers. That's especially shocking when you consider Peacock is the home of the Olympics, which starts this week.
Roku is impacted because it is both a streamer and a reseller of other streaming services. If consumers aren't adding streaming outside of Netflix and Disney, which are the two market leaders, will there be much growth for Roku?
Source Fool.com
Roku Stock
€135.46
-0.920%
The stock is one of the favorites of our community with 48 Buy predictions and 1 Sell predictions.
At the moment Roku has reached the predicted target price of 136 €, with a current price of 135.46 €.
