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Why Roku Shares Rose 5% Today

TheMotleyFool

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Shares of streaming service platform Roku (NASDAQ: ROKU) jumped 5% Tuesday as of 12:15 p.m. EST.

The stock dropped a similar level Monday after it was reported that Roku is close to acquiring the video catalogue of short-form streaming company Quibi.

The thought of Roku entering the content business spooked some investors, but a Wells Fargo analyst today gave shares an overweight (buy) rating, with a $414 price target. The stock closed Monday at $317.90 per share.

Source Fool.com

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