Is Roku Headed for a Breakdown? By StockNews
Roku Inc. (NASDAQ) appears to be creating a bearish chart pattern called a double-top. The stock will likely fall below the support line. You can learn more about how to profit from this trade. Roku Inc. is America’s largest streaming site by hours watched, with 40 billion hours worth of content streamed to date in 2019. Roku uses its eponymous operating systems in both their own hardware and in TVs and soundbars made by manufacturers such as Onn, TCL and Hisense.
Increased average revenue per user has brought the company more customers and increased engagement through social distancing. The Roku Channel also sees a spike in premium subscription signups. Additionally, streaming hours are growing which should help TV streaming advertising.
ROKU’s cash balance was $2.1 billion at the end of its most recent quarter. Short term debt stood at $7 million. The stock also has a ratio of 0.2% debt to equity. This resulted in a quality grade of B for our POWR Ratings.
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