Analyst Issues a Rare Mea Culpa on Roku
Roku (NASDAQ: ROKU) has been unstoppable so far in 2019. Stock for the pioneer of TV streaming devices has gained more than 326% so far this year and about 456% since its first-day closing price in September 2017. With this type of momentum, it can be difficult for analysts to make the right call consistently. Most of the time when they fall short, they simply move on.
That's why it's particularly notable when an analyst owns up to a dubious call. But that's exactly what RBC Capital Market analyst Mark Mahaney did recently regarding his firm's call in early July to downgrade Roku to "sector perform" (hold) from outperform (buy).
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Source Fool.com
