Roku stock has shed a third of its value this year on growth and competitive concerns. It continues to be at a lucrative intersection of consumers shifting to streaming and advertisers flocking to connected TV solutions.
Roku has had a tough year so far, falling by about 30% year-to-date, underperforming the Nasdaq-100, which gained over 10% over the same period. Although Roku posted a better-than-expected set of Q1 2024 results in late April, investors appear to be concerned about higher competition and the company's expectations of slowing platform sales.