(NASDAQ: ROKU) stock has been sinking over the past few weeks. The plunge began when Walmart announced it was buying Roku competitor Vizio, and then it continued after Roku released its earnings report last week. It's now down 30% since the year started, erasing much of its 2023 gains.

Ever the contrarian, Ark Invest's Cathie Wood has been taking advantage of the plunging price to scoop up shares of Roku stock. Should investors follow her lead?

Roku is known for its streaming devices, but it makes most of its money from its platform segment, which is mostly ad revenue. It features ads on its free channels, and platform revenue accounted for 87% of the total in 2023.

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Source Fool.com