Stock Story -
What Happened: Shares of streaming TV platform Roku (NASDAQ: NASDAQ:ROKU) jumped 6.1% in the morning session after investors bought the dip with the technology sector, which lost 4% last week, as yields fell. The yield on the 10-year Treasury yield, meanwhile, lost nearly 4 basis points. Other than potential positioning and a bounce after a losing week, there was nothing more specific. During the week, traders will get greater clarity into the path of rate cuts from the central bank. The December 2023 consumer price index is set for release, followed by the producer price index.
Is now the time to buy Roku? Find out by reading the original article on StockStory.
What is the market telling us: Roku's shares are very volatile and over the last year have had 36 moves greater than 5%. In context of that, today's move is indicating the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 2 months ago, when the stock gained 15.6% on the news that the company reported third quarter results that exceeded analysts' revenue expectations, driven in part by better active account growth. While revenue guidance for Q4 was in line, adjusted EBITDA guidance was well ahead, and that was probably the most exciting aspect of this earnings report. Overall, the quarter's results seemed fairly positive, and shareholders should feel optimistic.
Roku is up 6.1% since the beginning of the year, but at $94.41 per share it is still trading 11.7% below its 52-week high of $106.87 from November 2023. Investors who bought $1,000 worth of Roku's shares 5 years ago would now be looking at an investment worth $2,311.
![Roku (ROKU) Stock Trades Up, Here Is Why](https://d68-invdn-com.investing.com/content/picc373b898c346d74a8aaed23a59ec5789.jpeg)