ROKU Stock Price Increases 7.52%: Why It Happened

By Amit Chowdhry ● February 9, 2021
  • The stock price of Roku Inc (NASDAQ: ROKU) has increased by 7.52% today. This is why it happened.

The stock price of Roku Inc (NASDAQ: ROKU) has increased by 7.52% today as it went from a previous close of $434.63 to $467.30. There appears to be a couple of catalysts in play. There has been an uptick in the hype around the stock on social media platforms like Reddit and StockTwits today. And investors are also citing market share around the Super Bowl over the weekend.

Super Bowl LV was one of the most streamed games ever. Nielsen ratings have been showing that the Super Bowl was watched by 96.4 million viewers across all of the platforms. This is slightly lower than previous years, but it was one of the most live-streamed games in history with an average of 5.7 million viewers per minute, up 65% from last year.

Online video optimization and analytics company Conviva segmented the streaming numbers even further by reporting the market share of each streaming platform.

“According to Conviva, Roku was the most popular platform for consumers streaming the game. Roku’s share of streaming attempts for Super Bowl viewing was 41%, followed by Amazon Fire TV at 24%, Apple TV at 12%, and Samsung TV at 8%,” wrote Ben Munson of Fierce Video.

Here is how the market share looks in a chart:

In the r/WallStreetBets Reddit thread, one of the posts that recently went viral was from an aggressive Roku bull who disclosed (with screenshots) a $500,000 options investment in April 2020 and a reinvestment of profits into more aggressive options in Roku. This post may have also influenced some active Reddit investors. 

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.