Shares of Roku (NASDAQ: ROKU) were surging today even as there was no major news out on the leading streaming distribution platform. Instead, investors seemed to be reacting to a number of smaller news items, including that Amazon was planning to launch an ad-based tier for Prime Video.
As of 1:52 p.m. ET, Roku stock was up 11.6% as of 1:53 p.m. ET.
Streaming stocks were up broadly today, possibly in response to rumors that the connected TV ad market was bouncing back in the second quarter, and as Netflix scored a pair of analyst upgrades that cheered the tailwinds from the leading streamer's "paid sharing" rollout and its growing ad business.
Source Fool.com