ROKU - Why Streaming Stocks Sank on Monday
This has been a bruising year for investors, and the market sell-off picked up steam to start the week, with all major indexes down more than 2% as of 12:03 p.m. ET on Monday. Once again, the culprit is rising fears over the Federal Reserve's plan to raise interest rates to bring a halt to inflation.
The worries over inflation, the direction of the economy, and slowing revenue growth have hit highly valued entertainment platforms hard. Roku (NASDAQ: ROKU) was trading down 9.6%, while Netflix (NASDAQ: NFLX) was down 5.7% and Genius Brands International (NASDAQ: GNUS) was down 2.8%.
Investors should always remember that most of the daily trading volume in the stock market is driven by institutional firms, and these investors have different goals than the small investor trying to save for retirement.
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Why Streaming Stocks Sank on Monday