Roku (ROKU) shares dropped more than 11.7% on Wednesday amid an Underweight initiation by Atlantic Equities over concerns of slowing growth and weak penetration in markets abroad.
“We estimate that 80% of Roku’s active accounts are located in the U.S., implying 34% penetration in that market and just 6% in the other markets in which it operates,” analyst Hamilton Faber wrote in a note to investors. The streaming device company’s international markets include Canada, Mexico, Brazil, the…
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