Looks Like Roku Shareholders Can Breathe a Sigh of Relief (for Now)
After the close of trading on Monday, it was reported that Morgan Stanley (NYSE: MS) was offering 6 million shares of Roku (NASDAQ: ROKU) at $57.50 and $59 per share. That was well below Monday's closing price of $63.84, which was already down a stunning 21.1% for the day during the worst single-day drop in the market since 1987.
That was a very worrying sign that large shareholders may have wanted out of the high-flying growth stock at just about any price. After all, Roku topped $176 per share as recently as last August, so to see a large shareholder wanting out at $60 was not what shareholders wanted to hear.
However, we now know who the big seller was, and the answer to the question should probably make Roku shareholders breathe a bit easier -- at least, as easy as one can breathe in this environment.
Source Fool.com
