Why Could Roku Stock Be Safe Bet For 2021?

The continued growth in the video streaming industry has come as a boost for video streaming device and platform company Roku Inc (NASDAQ: ROKU).

The company has grown at an impressive pace in recent times and the stock has recovered strongly from its 52 week low as well. Since hitting its lowest level in 52 weeks, the Roku stock has managed to clock gains of as cosmic as 320% and the rally continued last week as well. During the course of the week, the stock went up by 13%.

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In this regard, it is also necessary to mention that the coronavirus pandemic did not prove to be a big blow for Roku either. The lockdown measures had only led to a rise in demand for video streaming services and on-demand entertainment. Hence, Roku was not affected as much. Although the stock has fallen from its previous historic levels, it should be noted that the company has inked strategic partnerships with regard to its advertising business. That is another business segment that could be watched closely by investors at this point.

Jack Dawkins

Finance and Tech Contributor