Why Roku Shares Gained 45% in November

Shares of Roku (NASDAQ: ROKU) rose 45% in November 2020, according to data from S&P Global Market Intelligence. The surge started with a strong earnings report on Nov. 5, but the bulk of Roku's November gains rested on bullish analyst notes.

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Roku's third-quarter sales rose 73% year over year to $452 million. The bottom line flipped from a loss of $0.22 to earnings of $0.09 per share. The results left analysts eating dust across the board. The share price surged as much as 13.6% higher the next day, resulting in a year-to-date return of 89%. These gains evaporated quickly as many investors decided to cash in some of their Roku winnings.

Source Fool.com