Why Roku Stock Suddenly Popped on Tuesday
Shares of connected-TV platform (NASDAQ: ROKU) suddenly popped in early trading on Tuesday morning after the company announced a new integration with e-commerce company Shopify (NYSE: SHOP). As of 12:30 p.m. ET, Roku stock was up 12%. For its part, Shopify stock was little changed with a less than 2% gain, suggesting the news is a bigger deal for Roku than for Shopify.
As of the first quarter of 2023, Roku had 71.6 million active accounts on its platform, and these users will now start seeing some interesting advertisements from merchants that use Shopify. Roku and Shopify are integrating to allow more-immersive advertisements; viewers can use their Roku remotes to purchase products directly from the ads.
This isn't the first instance of what are called Roku Action Ads. Last year, the company announced a similar integration with Walmart.
Source Fool.com
Roku Stock
Currently there is a rather positive sentiment for Roku with 29 Buy predictions and 7 Sell predictions.
With a target price of 93 € there is a hugely positive potential of 71.37% for Roku compared to the current price of 54.27 €.
