Why Roku Stock Was Down on Monday
Roku (NASDAQ: ROKU) shareholders lost ground to the market early Monday as the stock shed 3% by 11:15 a.m ET, compared to a 0.7% decline in the S&P 500. That drop added to a long string of losses for the streaming video platform stock, which is down over 75% so far in 2022.
It came as investors worried about potentially bad news on the way in the streaming industry.
Rival Netflix (NASDAQ: NFLX) is set to announce its Q3 results in just a few days, on Oct. 18. That report carries a few risks for Roku stock, led by the potential for the streaming video leader to issue a bearish short-term outlook. Back in July, co-CEO Reed Hastings and his team predicted that Netflix would return to user growth in the current quarter. However, the intervening period brought more pressure to consumers' wallets thanks to inflation.
Source Fool.com
