Stocks on Wall Street traded up, with the major averages closing trades at new record peaks inspired by the news that the upcoming stimulus package aid from Washington will drive the U.S. economy and make it rebound even faster.
The NASDAQ Composite celebrated a weekly growth of 1.7%, while the Dow Jones Industrial Average and the S&P 500 tacked on 1% and 1.2% respectively over the same time-line.
Meantime, Wall Street’s fear gauge, the CBOE VIX Volatility Index, ended trading below 20 for the first time since February 2020.
Although this week is a holiday-shortened one, it has proven to be another busy week for Wall Street, with one more batch of solid earnings announcements, as well as a major economic data release.
It doesn’t matter which direction the market will take further, below we highlight one stock that will most probably be admired in the upcoming days.
Bare in mind though that we consider the time frame only for this week.
Stock to Buy: Roku
Roku (NASDAQ:ROKU) will be on the investor radar tomorrow, as investors are looking forward to the latest financial report from the skyrocketing, streaming media platform provider, which is expected to share its earnings after the market close on Thursday, Feb. 18th.
It would either surpass or match Wall Street’s forecasts for 13 successive quarters, going back to Q3 2017, due to its super-fast user expansion, which has granted the company with a higher advertising revenue.
Roku’s revenue is expected to elevate about 49% year-over-year to $613.6 million, demonstrating rapid increase in its ad-supported VOD services.
Roku’s active accounts grew 43% from the year-ago period to 46 million, while ARPU showed a double-digit percentage gain, boosting 20% year-over-year to an all-time peak of $27.
Roku has proven to be one of the market’s strongest players during the past 12 months. After surging 165% in 2020, ROKU stock has grown an additional 41% during the first month and a half of 2021.
Roku’s shares traded at $468.67 on Friday, a little lower their record high of $479.95 hit on Feb. 11th.