1 Super-Cheap Turnaround Stock to Consider
To say that 2022 was a difficult one for growth tech stocks would be an understatement. Roku (NASDAQ: ROKU), a leading streaming platform business, saw its shares tank 82% last year amid general weakness in the equity markets and waning interest among investors for unprofitable enterprises.
But there might be an opportunity here. As of this writing, Roku's stock is trading at a price-to-sales multiple of 2.7, which is significantly below its historical average of 11.3 and not too far off the all-time low of 1.7. Here's why Roku is a super-cheap turnaround stock to consider buying right now.
During the fourth quarter, Roku's sales of $867.1 million were essentially flat with the same period in 2021. The net loss of $237.2 million was a huge reversal from the $23.7 million profit in the year-ago period. Nonetheless, Roku beat Wall Street analyst expectations with its latest financial release.
Source Fool.com
