1678788380 Roku SVB engagement is no problem Buy The Drop NASDAQROKU

Roku: SVB engagement is no problem, Buy The Drop (NASDAQ:ROKU)

Roku lays off 200 employees as tech dismantling continues

Justin Sullivan

Roku (NASDAQ:ROKU) shares are down 15% since the company reported fourth-quarter results in February. However, the streaming company surprised the market by forecasting EBITDA profitability in fiscal 2024, which I think is the most important thing for Roku. Shares have been trending lower recently, in part due to the financial and solvency issues surrounding SVB Financial Group (SIVB). The group’s Silicon Valley bank holds the deposits of many startups, including Roku, which raised concerns last week that the streaming company might not be able to access its funds. However, the Fed stepped in over the weekend and guaranteed all of Silicon Valley Bank’s deposits, which should ease Roku’s valuation. I believe Roku’s decline is a buying opportunity as the company’s streaming business will continue to grow!

Source: Roku