Here’s Why Roku, Inc. (ROKU) Skyrocketed Today

We recently compiled a list of the 10 Firms, Predominantly Gold Miners, Lead Wednesday Rally. In this article, we are going to take a look at where Roku, Inc. (NASDAQ:ROKU) stands against the other stocks.

Ten companies–predominantly gold miners–led Wednesday’s rally on Wall Street, despite the latter’s main indices closing mixed.

The Dow Jones eked out a 0.25 percent gain, while the S&P’s main index inched up 0.16 percent. Nasdaq bucked counterparts, dipping by 0.06 percent.

We considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume to come up with Wednesday’s top advancers.

A large movie theatre filled with people enjoying a film streaming on a smart TV.

Roku, Inc. (NASDAQ:ROKU)

Shares of Roku Inc (NASDAQ:ROKU) rose by 6.42 percent on Wednesday to finish at $83 apiece after booking 90 million streaming households in the first week of the month.

The update from the streaming platform came after announcements in October that it was no longer giving updates on its streaming household numbers and average revenue per user. As of October, the company had 85.5 million streaming households.

Roku Inc (NASDAQ:ROKU) previously said that it would focus more on platform revenue and profitability, rather than the number of streaming households. But the company said it planned to announce key milestones, such as reaching 100 million streaming households.

According to Roku founder and CEO Anthony Wood, Roku’s extensive scale sets the company apart in the streaming industry.

“Thanks to our laser focus on simplifying and enhancing the streamer’s journey, Roku is the preferred choice for millions of viewers,” he said.

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Disclosure: None. This article is originally published at Insider Monkey.