Roku dips as short firm Citron terms it 'total joke'
Seeking Alpha
Published Nov 28, 2017 02:01PM ET
Roku dips as short firm Citron terms it 'total joke'
- Roku (NASDAQ:ROKU) -- minting stock gains of late, up 140% since Nov. 8 earnings -- has turned 2.8% lower as influential short seller Citron Research puts the company in the crosshairs of its latest thesis.
- "Time to pop some real bubbles. ROKU, total joke," the firm tweets out. "Citron trusts Mark Mahaney at $28 price target and that is IF they can hold comp back.
- "Today's Needham research is irresponsible. Unless $ROKU finds a way to stream a BTC -- this stock is MUCH LOWER ... caveat emptor."
- Mahaney's $28 price target is against today's price of $45.16. Meanwhile, Needham set a Street-high price target of $50, saying Netflix (NASDAQ:NFLX) is the best comp but that Roku is "materially cheaper" with less risk.
- Citron says its Andrew Left will be on CNBC's Halftime Report tomorrow to discuss the Roku position.
- Now read: Roku - Looks Expensive, Dangerous Short
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