Roku's Correction May Not Be Over

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About: Roku, Inc. (ROKU)
by: Knox Ridley
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Knox Ridley
Long/short equity, research analyst, tech, chipmakers
Summary

Roku's business model is routinely misunderstood.

With 39% of the US OTT hardware market and 32.3 million users in the latest quarterly release, Roku is on track to become the dominant Connected TV Ad option.

Roku is currently in its 4th Wave correction, and as long as it stays below the current resistance level, there will be chances for lower entries on a more long term.

Above this resistance price point and we could see much higher prices.

Roku’s (NASDAQ:ROKU) stock price is up by almost 500% over the past two years. Compare this to the S&P 500, which is up less than 25%. That’s 20X more returns than the average