Here’s why Roku (ROKU) stock is up 9% today

 

Shares of Roku (ROKU) stock are up 9% following an announcement Comcast (CMCSA) is cancelling plans to create its own tvOS app, choosing to go with the Roku’s TV platform over Apple’s (AAPL) Apple TV in the company’s upcoming smart boxes.

Roku also announced Monday that Mustafa Ozgen will be joining the company as SVP and GM of Account Acquisition. Mustafa Ozgen is leaving his position as CEO of SmartKem Limited for the position at Roku, bringing with him TV industry knowledge and experience.

Roku stock is currently trading at $49.48 as of 2:16 PM on Monday, Feb. 4, an increase of $4.27, or 9.44% from the previous closing price of $45.21. ROKU stock has traded between $45.22 and $50.70 so far today. Volume today is elevated. So far 20,741,899 shares have traded compared to average volume of 13,358,226 shares.

Meanwhile, the major indices are climbing. The NASDAQ is up 1.06% to 7,341.07. The S&P 500 has risen 0.44% to 2,718.34. The Dow Jones Industrial Average is higher by 0.39% to 25,161.78.

Stock Score Report, InvestorsObserver’s proprietary scoring system gives ROKU stock a score of 56 out of a possible 100. That score is based on three component scores. A fundamental score of 18, a long-term technical score of 80 and a short-term technical score of 70. ROKU stock holds an analyst average recommendation of Strong Buy, with a median target price of $55.50

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Symbols: AAPL CMCSA ROKU

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