Why Roku Shares Are Trading Higher Today

Roku Inc ROKU shares are trading higher by 6% at $367.90 following news that legislation proposed by the U.S. Congress could lead to the largest technology companies in the world getting broken up for possible anti-competitive practices.

Roku has praised lawmakers for the legislation stating that they're “taking a crucial step toward curbing the predatory and anticompetitive behaviors of some of the country’s most powerful companies.”

Read More: Congress Hits At Tech Giants Amazon, Apple, Facebook And Google: Could Companies Be Forced To Split?

As of December 31, 2020, Roku had 51.2 million active accounts. Roku also provides digital and video advertising, content distribution, subscription, and billing services, as well as other commerce transactions, brand sponsorship and promotions and audience development campaigns; and manufactures, sells and licenses smart TVs under the Roku TV name.