Roku Inc. (ROKU) Hits 4-Year High on Sale Buzz

Roku Inc. (NASDAQ:ROKU) is one of the 10 Stocks That Absolutely Exploded Higher.

Roku saw its share prices climb to a new four-year high on Friday, as investors positioned their portfolios following reports that it is exploring a sale.

In intra-day trading, the stock surged to its highest price of $148.88 before paring gains to finish the session just up by 20.08 percent at $143.66 apiece.

Photo by Tima Miroshnichenko on Pexels

According to a report by Bloomberg citing people privy to the matter, Roku Inc. (NASDAQ:ROKU) is looking at potential options, including selling itself or tying up with media companies.

It is said to be already in talks with at least one media giant for a potential merger, albeit no final decision has been made.

In other news, Roku Inc. (NASDAQ:ROKU) told the Securities and Exchange Commission on Thursday that its Chairman and CEO, Anthony Wood, disposed of $2.13 million worth of its shares in a series of transactions last Wednesday, June 10. The sale covered 18,000 shares at prices ranging from $117.01 to $120.17 apiece.

In other news, Roku Inc. (NASDAQ:ROKU) reported a stellar earnings performance in the first quarter of the year, swinging to a net income of $85.7 million from a $27.4 million net loss in the same period last year.

Total net revenues increased by 22 percent to $1.249 billion from $1.021 billion year-on-year.

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