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TV streaming platform operator Roku (NASDAQ:ROKU) posted a seventh straight session of gain 1.32% higher at $59.93.
The stock has added 12.06% of value over the course of the last six trading days, with a notable gain recorded on Wednesday, June 26. ROKU finished the day 4.61% higher at $57.16.
Another significant gain was logged yesterday when the stock ended 3.48% up at $59.15.
The communication services company trades 7% above its 20-day simple moving average, but has declined by ~35% year-to-date. It is trading close to a 52-week low of $51.51.
Short interest on the stock stood at 8.21% of the total float as of June 15, representing 11.84M shares sold short.
The stock hit rock bottom in February after analysts urged caution despite strong Q4 earnings, and dipped further after Wells Fargo downgraded amid Walmart-Vizio deal.
Roku has failed to gather momentum ever since in the absence of a significant positive catalyst.
The sell-side analysts, Seeking Alpha authors as well as the Quant Rating system grade the stock as Hold.