Why Roku, Inc. Shares Plunged 23% Lower in October
Shares of Roku (NASDAQ: ROKU) fell 23.2% lower in October 2017, according to data from S&P Global Market Intelligence. Having started its life on the public markets at the very end of September, the young stock had some volatility to shake out of its system.
The maker of streaming video set-top boxes and operator of related advertising services took a heavy hit in early October, when the freshly minted ticker opened up for options trading and short-selling. The bearish action stabilized for a while, but when the banks underwriting Roku's stock offering exited their lock-up period, the flurry of new analyst ratings were a mixed bag. Therefore, share prices had some more sliding to do.
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Source: Fool.com