Long Position on ROKU @ $76.00 on 7/13/2023 (Momentum)

Roku, Inc. (ROKU) operates a TV streaming platform. The company operates in two segments, Platform and Devices. 

Its streaming platform allows users to find and access TV shows, movies, news, sports, and others.

The company also provides digital advertising and related services, including the demand-side ad platform and content distribution services, such as subscription and transaction revenue shares; media and entertainment promotional spending services; premium subscriptions services; video and display advertising services; and sells branded channel buttons on remote controls of streaming device.

In addition, it offers billing services; and brand sponsorship and promotions, as well as manufactures, sells, and licenses smart TVs under the Roku TV name.

Further, the company provides streaming players, audio products, and smart home products and accessories under the Roku brand name. It offers its products and services through retailers and distributors, as well as directly to customers through its website.

Shares have formed a bullish "flag" following its latest earnings report. Higher share prices are expected. The company also announced an agreement with Shopify. The agremment will let Shopify to allow customers to purchase products through Roku. On April 26th, ROKU reported a 1st Quarter March 2023 loss of $1.38 per share on revenue of $741.0 million. The consensus estimate was a loss of $1.44 per share on revenue of $707.3 million. 

Entry Point: $76.00

Stop Loss: $72.50

Trading Range: $38.26 to $97.93

Target Price: $83.60

Updates

7/24/2023 9:03:20 PM

ROKU closed at $72.50

Position closed on 7/25/2023 at price of $72.50 with a -4.61% loss in 11 days.

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