Wednesday, March 03, 2021 3:49:54 PM
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Chris Katje
March 3, 2021 3:11 pm
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Roku Will Take Lion's Share Of Streaming TV Market, According To Cathie Wood
Ark Investment Management Founder and CEO Cathie Wood joined Benzinga's "Raz Report" for an exclusive interview Wednesday. She shared her thoughts on several stocks, including Roku Inc (NASDAQ:ROKU).
Wood on Roku: Wood sees a huge transition from linear television to streaming television. When asked where the $70 billion in annual advertising for linear television will go, the answer from Wood is the streaming leaders.
“The surprise is Roku,” Wood said, noting that most people point to Facebook Inc (NASDAQ:FB) and Amazon.com (NASDAQ:AMZN) being possible winners in the shift. “Roku is becoming the operating system of streaming TV.”
Roku started its own channel and recently acquired Quibi to add more of its own original content. This could lead to additional advertising revenue.
Wood thinks Roku and Amazon are going to “take the lion’s share of the market.”
Related Link: Is Roku Pushing Into Original Content?
Why It’s Important: Roku is the third-largest holding in the Ark Innovation ETF (NYSE:ARKK). The stock represents 5.3% of the Ark flagship ETF’s assets. The stock trails only Square Inc (NYSE:SQ) and Tesla (NASDAQ:TSLA), which rank second and first for the fund’s assets.
Roku is also a top 10 holding in the Ark Next Generation Internet ETF (NYSE:ARKW).
ROKU Price Action: Roku shares are down 4% $373.17 at publication time.
Recent ROKU News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/19/2024 10:13:03 PM
- Roku Launches Ads Manager, a Self-Service Performance Solution for Growth Marketers • Business Wire • 09/18/2024 01:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/17/2024 08:18:08 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/17/2024 08:11:02 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/13/2024 09:57:10 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/13/2024 09:56:45 PM
- OpenAI Unveils Strawberry AI Model Series; Boeing Stock Falls 4% Amid Strike; HR Surges 20% on Growth Forecast • IH Market News • 09/13/2024 10:12:55 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/12/2024 08:54:16 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/12/2024 08:31:28 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2024 10:24:54 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2024 10:24:06 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2024 10:23:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2024 10:22:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2024 10:21:47 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2024 10:20:43 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2024 10:18:41 PM
- Kick off the NFL Season with the NFL Zone on Roku • Business Wire • 09/05/2024 01:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/04/2024 08:07:58 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/04/2024 08:04:26 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/04/2024 08:02:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 10:26:47 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 10:26:08 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 10:25:27 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 10:24:53 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 10:24:08 PM
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