Why Roku, Netflix, and Lions Gate Stock All Popped Today
In retrospect, this should have been obvious. After states across the nation began ordering the closure of restaurants to promote social distancing, it was probably inevitable that movie theaters would be next to close.
Close they did, with the announcements going out Monday night and today. And that should have made it obvious which stocks would benefit from the elimination of competition from old-school cinema: streaming stocks.
True to form, shares of the top maker of over-the-top streaming devices, Roku (NASDAQ: ROKU), and the most popular streaming video provider, Netflix (NASDAQ: NFLX), closed trading today up 8.8% and 7%, respectively.
Source Fool.com
