3 Reasons to Buy Roku Stock Now

There's no denying that the adoption of streaming video accelerated over the course of 2020, and as the leading aggregator of streaming options, Roku (NASDAQ: ROKU) was one of the biggest beneficiaries. The company added more than 14 million active accounts during the year, bringing its total to 51.2 million. This, combined with revenue that grew 58%, supercharged the stock, which climbed 148% last year.

During the recent rotation out of technology stocks, however, Roku has taken it on the chin, with shares down more than 30% from their recent highs -- on no company-specific news. At the same time, several positive developments provide insight into the company's evolving strategy and mounting evidence that Roku could maintain its growth trajectory in 2021. Let's look at three reasons that now is the time to buy Roku stock.

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Source Fool.com