Media-streaming technology veteran (NASDAQ: ROKU) crashed hard in 2022 and started a respectable rebound in 2023. But you can't call it a full recovery -- Roku's stock price is still down by 79% in two years.
Many investors wonder whether Roku is a strong buy at these prices -- or perhaps it's down in the dumps for good reason. I don't want to keep you in the dark much longer, so let me just tell you why I think the Roku bulls have the right idea.
Roku's formerly soaring stock started to slide in the summer of 2021. Many investors saw the company as a direct beneficiary of the coronavirus lockup era, where remote work and online entertainment could do no wrong. That dark conclusion gained some real-world support when Roku's user engagement fell in an otherwise strong second quarter of 2021.
Source Fool.com