+ 1.58
+ 0.47%
+ 2.41
+ 0.71%
+ 2.78
+ 0.67%
+ 1.29
+ 0.77%

Roku Will Take Lion's Share Of Streaming TV Market, According To Cathie Wood

March 3, 2021 3:11 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
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.

Related Articles

Are Genomic Stocks The Next FANG Stocks?

Some of the best performing ETFs in 2020 have been the Ark Funds, actively managed ETFs led by Cathie Wood. A long-time Tesla Inc (NASDAQ: TSLA) and technology stock bull, Wood is now betting heavily on genomic stocks. read more

Why Square, PayPal Are Top Picks In The Fintech Space Ahead Of Earnings

Ahead of earnings from payment processing companies, an analyst at Rosenblatt Securities picked his five favorite names in the space. read more

Here's Why Sunrun, Apple And Amazon Are Moving

Analysts and brokerage firms often use ratings when they issue stock recommendations to stock traders. Analysts arrive at stock ratings by researching public financial statements, communicating with executives and customers and following industry trends. Here are the latest analyst ratings and updates for Sunrun, Apple and Amazon. read more

3 Big Data Stocks To Watch Today

Three of the biggest Big Data stocks are at important inflection points, and that could mean big moves are coming. Microsoft Corporation (NASDAQ: MSFT) is overbought. This could bring sellers into the market who will drive the price lower. read more