Is Cathie Wood Making a Mistake by Selling Roku Stock?
(NASDAQ: ROKU) has had a pretty impressive glow-up this year. Shares of North America's top dog among streaming TV hubs more than doubled in 2023, soaring 51% alone in July after another blowout quarter.
With big gains come big responsibilities, especially if you happen to be an analyst or a prolific money manager. Jason Bazinet at Citi downgraded the stock from buy to neutral on Thursday. The more noteworthy move is Ark Invest's Cathie Wood unloading some shares of Roku on Monday and Thursday.
Neither move is as scary as it seems at first glance. Bazinet's downgrade also found him jacking up his price target on Roku from $75 to $100 in the process, suggesting near-term upside from current levels. Wood's selling activity is even less problematic. Let's take a closer look.
Source Fool.com
Roku Stock
Currently there is a rather positive sentiment for Roku with 29 Buy predictions and 7 Sell predictions.
With a target price of 93 € there is a hugely positive potential of 71.14% for Roku compared to the current price of 54.34 €.
