Where Will Roku Stock Be in 1 Year?
It's fair to say that Roku (NASDAQ: ROKU) is going through a rough patch. Shares of the company behind the country's leading streaming-video hub have plummeted 87% since peaking two summers ago. The stock opened higher on Thursday, but only because it has announced another round of layoffs.
Roku will be eliminating roughly 200 employees (6% of its workforce) as it moves to improve its cost structure. The move -- which also includes exiting or subleasing offices that it doesn't currently occupy -- will result in a total of $30 million to $35 million in one-time charges. A lot of companies have been trimming their head count lately, but it doesn't make corporate retreats any easier to stomach.
I still see Roku trading higher a year from now, and possibly even substantially higher. Why am I an optimist when it's raining pink slips. Grab a sofa. Cradle the remote. Let's go channel surfing through the bullish argument for why Roku could be a more valuable investment by the springtime of 2024.
Source Fool.com
