Will Roku Continue to Defy Short Sellers?
It's been tough to be a short-seller in Roku (NASDAQ: ROKU). Shares of the streaming-media company have been on a tear, increasing more than 200% from its initial public offering price of $14 per share, on the back of a strong quarter and a deal with Philips that brings Roku's operating system to its line of televisions.
What has also increased is the number of short-sellers, those who sell the stock to buy it back when shares decline. The number of shares sold short continues to climb. Short interest is reported twice a month and has continued to grow for Roku, from 4.1 million shares in mid-October to 7.2 million in mid-November. To date, many of these contrarians have been painfully wrong, but can Roku continue to defy the shorts?
Image Source: Getty Images
Source: Fool.com
Roku Stock
The stock is one of the favorites of our community with 48 Buy predictions and 1 Sell predictions.
However, we have a potential of -0.25% for Roku as the target price of 136 € is below the current price of 136.34 €.
