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Why Roku Stock Is Up Sharply on Friday

TheMotleyFool

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Shares of streaming-TV platform Roku (NASDAQ: ROKU) are up sharply on Friday. As of 10 a.m. ET today, the stock had risen about 6%.

The stock's gain is likely being driven by optimism in the market on Friday for digital advertising stocks, following their beating on the prior trading day. Digital advertising stocks were dragged down yesterday after a disappointing quarter and weak guidance from Meta Platforms on Wednesday afternoon sent the Facebook company's shares plummeting.

But on Thursday, social media platform Snap reported results demonstrating a very different (and more optimistic) narrative. That sent its stock soaring today and gave a boost to many of the same advertising stocks that were hit hard the day before.

Source Fool.com

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