Those keeping an eye on tech stocks will know that September brought with it the worst weekly performance for Roku Inc. To be more specific, the company lost 40 per cent of its value, which was attributed to increased competition from others in the market.
Roku has taken a few hits in recent months; for example, its stock lost a third of its value after Apple unveiled its streaming service. However, Roku expects to grow alongside the growth of other streaming services, as it acts as a hub for consumers to navigate all of their subscriptions at once.
The company takes on new partnership deals, such as introducing the new Roku Express into Walmart stores. As a result, Yahoo Finance reports that many analysts have therefore maintained their high buy ratings in spite of the recent drop, due to recognising how Roku has potential to grow.
Overall, Roku stock increased by 250 percent this year, with its outlook receiving mixed responses. While some believe it will potentially fall during the rest of 2019 and in 2020, others believe investors have reacted too strongly to new competitors on the market, perhaps even wrongly interpreting it.
To read more about the analyst opinion of Roku, click here.