Why Roku, Inc. Stock Skyrocketed Today
Shares of Roku Inc. (NASDAQ: ROKU) soared 67.9% on Thursday, as investors cheered the streaming-video platform specialist on its first day as a publicly traded company.
Yesterday Roku priced its initial public offering of just over 18 million shares at $14 per share -- at the high end of its expected $12 to $14 range -- including nine million shares issued and sold by the company itself, and 6,668,000 shares from selling stockholders. There's a 30-day option for the deal's underwriters to buy up to 2,350,200 additional shares.
IMAGE SOURCE: ROKU.
Source: Fool.com