Why Roku Stock Fell 12% on Wednesday

Shares of Roku (NASDAQ: ROKU) took a hit on Wednesday, falling about 12% as of 11:30 a.m. EDT. The tech stock's decline followed an announcement that Comcast (NASDAQ: CMCSA) was making its streaming-TV box -- Xfinity Flex -- free for its internet-only customers. Following news yesterday that Comcast is launching a new streaming-TV service, called Peacock, the company is clearly stepping up its offering in connected TV.

Some Roku investors could be worried that Comcast's combination of a new streaming service and a free streaming-TV box could keep some users away from the Roku platform.

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Source Fool.com