Investors have been tuning out of (NASDAQ: ROKU). Shares of the streaming video pioneer have plummeted 89% since peaking in 2021. Its latest step down came on Friday, when the stock tumbled 10% following a poorly received financial update.

The silver lining here is that actual viewers aren't tuning out as Roku continues to grow its audience and engagement. Bears have a case, given the company's lack of recent profitability and the long-term challenges that await a platform competing against larger players to serve as the streaming hub in your living room.

Let's give the bulls a shot here, too. The stock would have to be nearly a nine-bagger to return to the all-time highs it scored three summers ago.

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Source Fool.com