Roku’s Record Collapse Expands List of Fallen Pandemic Favorites
- Shares have shed more than 75% since a peak hit last year
- Netflix, Peloton and Roblox have seen similarly big reversals
Photographer: Tiffany Hagler-Geard/Bloomberg
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Roku Inc. shares tumbled Friday, with the streaming-video platform company the latest example of a one-time pandemic favorite to see a precipitous decline as investors look past an era where consumers are no longer stuck indoors.
The shares tumbled as much as 27%, their biggest one-day drop on record, in the wake of fourth-quarter results that missed expectations and an outlook that was seen as weak, prompting at least one analyst downgrade. The stock is now down more than 75% off a peak hit in July, trading at its lowest since June 2020.