Wall Street Rolls Out First Batch of Roku Buy Ratings

Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope...

Going public at $14 a share, streaming video device maker Roku (NASDAQ: ROKU) closed its first day of trading up 90% -- then proceeded to rise from there. Within just two days of its IPO, Roku stock had officially doubled.

Now admittedly, the stock has given back some of its gains in the weeks since, as investors cashed in their profits. But here's the thing: Roku's recent weakness came during a period of time known as the IPO "quiet period," a 25-day stretch when investment banks traditionally refrain from commenting on an IPO they have underwritten, and give their new creation no public support. But that quiet period expired this morning...

Source: Fool.com