Roku's Rising, but This Nasdaq Highflier Just Got Crushed
The stock market has done quite well this week, but Wall Street hit some turbulence on Wednesday morning. With conflicting readings on just how serious the omicron COVID-19 variant might become across the globe, investors aren't quite sure whether to zig or zag. As of 11:15 a.m. ET, the Nasdaq Composite (NASDAQINDEX: ^IXIC) managed to hold onto gains of about 0.1%, but most other major benchmarks were lower on the day.
One stock that helped the Nasdaq maintain an even keel on Wednesday was Roku (NASDAQ: ROKU), which announced a lucrative deal that will keep a key content provider on its platform. However, another stock that has performed exceptionally well on the Nasdaq found itself facing massive losses, shocking shareholders. Below, we'll look at why Roku's on the move and then reveal which stock is getting taken to the woodshed early Wednesday.
Shares of Roku were higher by 13% on Wednesday morning. The streaming television specialist secured a key agreement that will ensure that a valuable content provider will remain available on its platform.
Source Fool.com
