Roku Stock Plunges Over 20% as Ad Revenue Woes and Amazon Competition Take Their Toll
SAN FRANCISCO, Calif. – Roku stock took a nosedive, plummeting over 20% on Friday due to ongoing weakness in the advertising market and increased competition from tech giants like Amazon. Despite beating Q4 revenue and earnings expectations, Roku fell short of its guidance estimates for gross profit in the current quarter, leading to a decline in investor sentiment. The company acknowledged challenges in the macro environment and an uneven ad market recovery. This acknowledgment from …