ROKU - Down 91% Since 2021 Roku Stock Is Now a Buy
2024-07-16 05:21:00 ET
Once a pandemic darling, television streaming platform Roku (NASDAQ: ROKU) is showing signs of investable value after a multi-year stock boom and bust. Like many other companies that benefited from the stay-at-home policies of the COVID-19 response, Roku stock rose parabolically beginning in mid-2020. Roku's rise coincided with high profile investor Cathie Wood's Ark Invest vehicles making multiple purchases of its shares. Of course, one year's bull market often turns into the next year's bear market, and shares eventually cratered. From its highs in July 2021, shares have fallen by over 91%.
Of course, such drastic price swings, first up, then back down, indicated market overreaction rather than a fundamental change in Roku's business performance or status. Now that the stock has fallen out of favor, it's time to take a closer look at the company's fundamentals to see if it is now a compelling opportunity.
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Down 91% Since 2021, Roku Stock Is Now a Buy