Roku was one of the single best-performing stocks in the U.S. in 2019. The streaming video platform provider soared almost 340% for the year and, believe it or not, it could still do pretty well in 2020.
Roku was one of TheStreet's top 5 stocks for 2019, as measured by the combination of stock price performance, the company's ability to beat expectations and management execution of strategy.
Here's why the stock did so well in 2019, as told by TheStreet's Tech Editor Nelson Wang:
"Roku really hit on all cylinders this past year. They increased their number of platform users to 32 million, they saw a lot of strong growth in advertising revenue, so they really beat all expectations. And a lot of it was just being in the middle of this big trend towards streaming. Whether you're subscribing to Netflix or Apple+ or Disney+, you're going to go to a platform like Roku to subscribe to them, so all the interest in all the launches in these new platforms.... it turned out that almost everybody is going to Roku and that really helped to boost their subscriber numbers."
"2020 probably sets up really nicely, especially with Disney+ coming out, Apple saying that they're going to continue to use Roku to put their Apple TV on and you've got quite a few other streaming services like Viacom/CBS coming out there as well."