(NASDAQ: ROKU) stock is a favorite on Wall Street these days. Sure, the streaming video platform's shares are well below the highs that investors saw during the pandemic rally. But they've doubled so far in 2023 compared to a 15% increase in the S 500 index.

Stock price gains at those levels don't happen without some good reasons for optimism on the business. Yet the Roku rally might also have gotten ahead of itself, potentially creating an opportunity to book some profits. Let's look at a big reason to buy Roku Stock today, along with one reason to sell it.

There were several indications in Roku's latest results that suggest the platform has excellent positioning in an industry that's set to grow for decades. Sure, sales growth was modest at just 11% in the second quarter. But Roku gained 1.9 million new viewers compared to the previous quarter and is serving far more digital entertainment to its base.

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Source Fool.com