Why This Video Streaming Stock In Cathie Wood's Portfolio Is Up About 10% Today
Portfolio Pulse from Shanthi Rexaline
Roku, Inc. (NASDAQ:ROKU) shares rallied in premarket trading on Friday after the company reported better-than-expected Q2 results. Revenue was $847 million, beating the consensus estimate of $773.43 million. The company's loss narrowed to $0.76 per share, compared to the expected loss of $1.27 per share. Roku is the third biggest holding in Ark Invest's flagship Ark Innovation ETF (NYSE:ARKK), with a 7.18% weighting.
July 28, 2023 | 11:15 am
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Roku, which reported better-than-expected Q2 results, is the third biggest holding in Ark Invest's flagship Ark Innovation ETF (ARKK).
Roku's strong Q2 results could have a positive impact on Ark Invest's ARKK ETF, as Roku is the third biggest holding in the ETF. If Roku's stock price increases, it could potentially boost the value of the ETF.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Roku's better-than-expected Q2 results led to a sharp increase in its stock price. The company's loss also narrowed more than expected.
Roku's Q2 results exceeded expectations, which is a positive signal for investors. This led to a sharp increase in the company's stock price in premarket trading. The company's loss also narrowed more than expected, which is another positive signal for investors.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100