Roku Stock Forecast: Rock inc. launch of free UK TV streaming fails to impress investors
|- Roku has announced new a free channel in the UK with access to 10,000 pieces of content.
- The service is available on several devices and monetized by ads.
- Roku's stock price is dropping after the initial rise.
Roku Inc. is trading to take advantage of the lockdown in the UK and has launched its television streaming services. The Los Gatos-based firm is trying to woo Brits by offering its channels free of charge. Roku will monetize this new endeavor with advertisements.
Among around 10,000 pieces of content, viewers may be able to view TV series, movies, and documentary firms some of the popular in Britain such as Homes Under the Hammer, The Commander, Ultimate Force, and Britain's Best Bakery. Children confined to their homes will be able to see Bob the Builder, Teletubies, Fireman Sam, and Baby Einstein. Schools are closed across the UK.
Roku's streaming devices include the Roky Streaming Stick+, Rok Express, and Roku Premier.
Roku Stock Chart
Roku's stock price initially jumped by some 10% but is now losing ground. The drop in shares is coming amid the background of the second day of gains in Wall Street. It seems that investors are taking profits after the early gains.
The chart is showing that the NASDAQ-traded firm's equity is changing hands at around $88 on Tuesday, off the highs near $90. The 52-week low was $55.02 and the peak was $176.55.
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