2 months ago
Stock Market

Roku Tanks Midday After Citron Calls Stock 'Uninvestable'

Investing.com - Streaming service Roku tumbled on Tuesday after Citron Research reversed its long

Investing.com - Streaming service Roku tumbled on Tuesday after Citron Research reversed its long position on the company, calling it “uninvestable.”

The research company cited Apple’s announcement on Sunday that it is teaming up with Samsung (KS:005930) to offer its services on Samsung devices. Some Samsung smart TVs will be able to access content through iTunes.

Roku (NASDAQ:ROKU) was down 9,% after surging 25% on Monday after it released its early viewership numbers for the fourth quarter, which were higher than expected at 27 million.

Meanwhile, Apple (NASDAQ:AAPL) rose 0.6%, while Netflix (NASDAQ:NFLX) fell 1.7%.

The S&P 500 Communication Services index was up 0.3%.