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 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 FB and Amazon.com 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 ARKK. The stock represents 5.3% of the Ark flagship ETF’s assets. The stock trails only Square Inc SQ and Tesla 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 ARKW.
ROKU Price Action: Roku shares are down 4% $373.17 at publication time.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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