Here's How Roku's Stock Rose 45% Last Month
Shares of Roku (NASDAQ: ROKU) gained 44.7% in October 2019, according to data from S&P Global Market Intelligence. It's hard to pin the gain on a single event because Roku kept up a steady barrage of market-moving news throughout the month.
The maker of hardware devices and software platforms that deliver streaming media into your living room entered October on the heels of a 33% plunge in September that was driven by worries about increasing competition. That set the stage for several Wall Street analysts reaching the conclusion that Roku was a buy at those sharply discounted prices. At the same time, Roku added more advertising space to screens running its content delivery portal, which will throw more fuel on its roaring revenue-growth fires.
A couple of weeks later, Roku announced the acquisition of ad campaign management specialist DataXu in a potentially game-changing deal with a modest $150 million price tag.
Source Fool.com