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Why Roku Jumped 10% Today

TheMotleyFool

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Shares of once high flying Roku (NASDAQ: ROKU) hit a speed bump as the market rotated out of technology stocks over the past several weeks. The stock is down 23% compared to this time last month, but the tide is turning back today.

Shares of Roku were up 10%, near the highs of the day, as of 3:50 p.m. EST.

One investor who added to Roku on the dip was ARK Investment's Cathie Wood. ARK Innovation ETF (NYSEMKT: ARKK) discloses its daily positions, and the exchange-traded fund added almost 150,000 shares of Roku on Friday during the tech sell-off. Investors who follow Wood's moves are also adding to, or initiating, investments in Roku today.

Source Fool.com

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