Can Roku Stock Keep Going After Last Week's 15% Pop?
Roku (NASDAQ: ROKU) has been one of the market's biggest winners in its brief tenure as a publicly traded company. The pioneer of streaming media players padded its gains with a nearly 15% pop last week. There were a couple of positive factors pushing it higher for the week. T-Mobile (NASDAQ: TMUS) announced that it will launch a disruptive digital TV service next year, something that should benefit Roku as a service-agnostic platform. It was also revealed that Twenty-First Century Fox (NASDAQ: FOX) (NASDAQ: FOXA) will keep its minority stake in Roku when its proposed $52.4 billion asset sale to Disney goes through in the first half of 2019.
The stock's eventual 14.8% gain for the week follows a blazing-hot November when the shares more than doubled. The stock has now soared 232% since bottoming out in the mid-teens the day it went public less than three months ago. The stock has also closed higher for eight straight weeks.
Image source: Roku.
Source: Fool.com