Although (NASDAQ: ROKU) shares remain 84% below their all-time high from July 2021, the stock has been a huge winner this year, up some 90%. Investors seem to be warming up to the growth tech stock once again. 

The immediate reaction might be to hop on the bandwagon to try and ride Roku's momentum to higher portfolio gains. But it's not that straightforward. There are some key bearish factors to consider. Before deciding to buy this streaming stock, investors need to know three important risks. 

Over the past several decades, television has been a big part of daily life not only in the U.S., but across the world, replacing the radio as the main form of entertainment. In more recent times, cable TV, and its expensive subscription bundles, were really the only way consumers could watch their favorite content. And in the last 10 years or so, streaming and connected TV have started to really take over. 

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Source Fool.com