Shares of online streaming-device maker Roku (ROKU) surged more than 6% on Tuesday amid expectations that sales will continue to be robust, particularly given the device's popularity on Amazon's (AMZN) Prime Day event.
Roku hit an all-time high on Tuesday, reaching $111.74 before easing a bit.
The company is projected to report a loss of 22 cents a share in its most recent quarter, compared with a break-even quarter a year earlier on sales of $223.9 million, according to analysts polled by FactSet. The company is expected to report results on Aug. 7.
Roku has been one of the hottest stocks of the year, more than tripling in 2019. It has also been one of the hottest items on Amazon's Prime Day sale, thanks in part to discounted prices.
For a limited time, the Roku Express can be scooped up for $24 (20% off), the Roku Premiere with 4K for $34 (15% off), the Roku Streaming Stick for $34 (32% off) and the Roku Streaming Stick+ with 4K for $49 (18% off).
The Roku Ultra, which is the company's most powerful streaming device, is $99.
James "Rev Shark" DePorre, a columnist for RealMoney, on Tuesday called Roku a standout in dull trading.
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